What is the CFTC Innovation Task Force?

Launched March 24 by Chairman Mike Selig, it's a group led by Michael Passalacqua to push regulatory clarity in crypto, AI, and prediction markets. First five members announced Friday — all legal experts.

Will the Clarity Act pass Congress?

Unlikely soon. Stalled despite SEC/CFTC support; needs bipartisan buy-in amid election noise. Trump admin pushes, but D.C. drags.

Who oversees crypto now: CFTC or SEC?

Gray area. CFTC claims commodities (Bitcoin, Ether futures); SEC eyes securities. Clarity Act would split it cleanly — pending legislation.

🔗 Crypto & Blockchain

CFTC's Crypto Task Force: Five Lawyers Walk In, Clarity Stays Outside

Five members. All with law degrees, zero blockchain builders. The CFTC's new Innovation Task Force promises crypto clarity — but smells like Washington window dressing.

theAIcatchup Apr 11, 2026 4 min read

CFTC Chairman Mike Selig with Innovation Task Force members announcement graphic

⚡ Key Takeaways

CFTC names five lawyer-heavy members to Innovation Task Force for crypto clarity, but no tech builders. 𝕏
Tied to stalled Clarity Act; SEC/CFTC ready, Congress not. 𝕏
Skeptical outlook: more reports than rules, benefiting incumbents over innovators. 𝕏