LabCFTC Breaks On Its Own; Blockchain, Crypto, And Emerging FinTech Can Seek Help Regulatory Clarity


The U.S. Commodity Futures Trading Commission (CFTC) has announced the expansion of it's fintech and blockchain research wing called LabCFTC. The regulatory body has decided to bring in the lab under its own wing and make it a full-fledged office where it would be directly reporting to chairman Heath Tarbert.

LabCFTC was created in 2017 as a part of the CFTC Office of General Counsel’s oversight and has been helping the agency in formulating various policies related to emerging technologies of blockchain, fintech, and cryptocurrency.

The agency's chairman noted the importance of the research wing and said,

“In its new capacity, LabCFTC will continue to be focused on both internal and external innovation.”

The prime focus of the LabCFTC would be to keep the agency up-to-date with new and emerging technologies, provide aid that the regulatory body can utilize better while enforcing and implementing tech tools during market manipulation attempts.

The research wing since its inception in 2017 has published two major research, one is an educational primer on smart contracts and another on a request for information for ethereum cryptocurrency.

Herbert said,

“our agency’s vision is to be the global standard for sound derivatives regulation. I want the agency to be a resource for you to help identify ways those technologies could fit into the current regulatory structure. Now that LabCFTC’s success has been demonstrated, we want to solidify its position within the agency. Now it will take on an even bigger role here at the CFTC and be a critical link to innovators for years, and perhaps decades, to come.”

LabCFTC is also actively working in the field of Artificial Intelligence (AI) as it is a growing belief that AI can become a potential tool in detecting illicit activities and market valuation. CFTC believe AI can play a crucial role in improving the derivatives market.

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