The U.S. Commodity Futures Trading Commission has announced the initial members of its newly formed innovation task force, marking another step in its effort to bring greater regulatory clarity to the cryptocurrency market.
The task force was launched on March 24 by CFTC Chairman Mike Selig, who also appointed Michael Passalacqua—currently serving as his senior advisor—to lead the initiative.
In a statement released Friday, the agency said Passalacqua will work alongside five founding members: Hank Balaban, formerly a crypto lawyer at Latham & Watkins; Sam Canavos, a former advisor on crypto and prediction markets at Patomak; Mark Fajfar, a longtime CFTC legal expert; Eugene Gonzalez IV, previously a blockchain lawyer at Sidley; and Dina Moussa, special counsel in the CFTC’s Division of Market Participants.
Selig said the group combines deep expertise with a strong commitment to establishing clear regulatory guidelines for U.S. innovators.
The initiative reflects a broader effort by both the CFTC and the Securities and Exchange Commission to clarify rules governing digital assets under the Donald Trump administration.
CFTC pushes for clarity as key legislation stalls
On Friday, Selig also introduced the CFTC’s “innovation tracker,” a new initiative designed to showcase the agency’s efforts to promote regulatory clarity, uphold market integrity, and support responsible technological development.
The tracker outlines three primary focus areas: crypto and blockchain, artificial intelligence and autonomous systems, and contracts and prediction markets.
The CFTC could ultimately take on a leading regulatory role in the crypto space, especially after the SEC indicated in mid-March that it does not view most digital assets as securities within its jurisdiction.
Still, the exact division of authority between the two agencies depends heavily on whether the CLARITY Act is approved at higher levels of government and signed into law—a move SEC Chair Paul Atkins urged in a post on X on Thursday.
Atkins stated that both the SEC and CFTC are “ready to implement the CLARITY Act,” adding that it is time for Congress to establish forward-looking legislation and bring comprehensive market structure reforms to President Trump’s desk.
