The United States commodities regulator is set to take a closer look at the decentralized finance (DeFi) space at an upcoming meeting of its technology committee, where it also invited crypto industry executives to present.
The Commodity Futures Trading Commission (CFTC) fixed on March 1 that the agenda for its March 22 meeting of its Technology Advisory Committee (TAC) will include a panel on "exploring issues in decentralized finance."
Other panels will explore the responsible development of Artificial Intelligence (AI) and potential threats arising from AI alongside cybersecurity threats to financial markets.
CFTC Commissioner Christy Goldsmith Romero said in a statement that the panel has an opportunity to "look beyond the labels and examine the issues brought forward by DeFi in a careful and holistic manner," adding:
"A discussion of DeFi, including cyber vulnerabilities, 'decentralization' indicators, digital identity, and non-hosted wallets, will contribute to ongoing policy discussions in Washington, DC, and beyond."
The panel will include presentations that provide an overview of the DeFi ecosystem and will discuss issues of decentralization, digital identity, non-custodial crypto wallets, and exploits.
Join us on March 22 (webcast) to hear presentations from cybersecurity experts: Attacking ION Markets and Beyond, Exploring Decentralized Finance, and Responsible AI https://t.co/iwQvR6fSv2
โ Commissioner Christy Goldsmith Romero (@CFTCcgr) March 1, 2023
Executives from cryptocurrency firms including cryptocurrency custody platform Fireblocks, security firm Trail Of Bits, venture capital firm Terranet Ventures, and blockchain intelligence firms TRM Labs and Metrika are scheduled to appear. during the meeting.
The meeting agenda will also include a session considering a subcommittee on crypto and blockchain technology in another move to help cement its bid to win regulatory jurisdiction over crypto.
Previously, on February 13, the CFTC Global Markets Advisory Committee (GMAC) met and discussed digital asset markets at its inaugural meeting.
Related: Rep. Maxine Waters Says All US Regulators Better Get Together on Crypto
Commissioner Caroline Pham, who oversaw the meeting, said crypto markets "really have no borders" and urged lawmakers to "understand what's going on" so that the US political approach "doesn't let Americans back and catch up."
The CFTC has been seeking regulatory control of the burgeoning cryptocurrency sector by the Securities and Exchange Commission (SEC), and CFTC commissioners urge Congress to give regulator oversight in crypto.
CFTC Chairman Rostin Behnam has also tried Justify why the regulator should have authority. on the space saying the commission was "well positioned" to address regulatory deficiencies.
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