CFTC Shakes Up Global Advisory Committee with Major Crypto Industry Appointments

Regulators finally waking up to crypto's staying power—or just trying to keep tabs on the industry that's eating their lunch?

Strategic Moves

The Commodity Futures Trading Commission just stacked its global advisory committee with heavy-hitting crypto executives. No more watching from the sidelines—regulators are bringing the innovators directly into the policymaking fold.

Industry Integration

Top blockchain founders and exchange CEOs now have seats at the table where international financial regulations get shaped. This isn't just symbolism—it's structural recognition that digital assets aren't going anywhere.

Market Implications

Watch for more nuanced regulatory frameworks that actually understand how crypto markets operate. Finally—policies written by people who've actually traded a token instead of just reading about them in briefing documents.

Because nothing says 'we're taking this seriously' like inviting the disruptors to help write the rules—right before they inevitably disrupt those too.

JPMorgan and Franklin Templeton Executives Named Co-Chairs of CFTC Crypto Subcommittee

JPMorgan’s Scott Lucas has been named co-chair of the subcommittee, joining Franklin Templeton’s Sandy Kaul. They replace Caroline Butler in the role.

Lucas emphasized the importance of shaping “clear and effective regulatory frameworks” for digital markets, while Kaul highlighted the need to expand digital asset access with “well-designed consumer protections.”

DAMS was established to guide the CFTC on developments in blockchain, tokenization, and decentralized finance.

It plays a central role in evaluating market risks, recommending policy changes, and supporting the agency’s goal of harmonizing oversight across financial sectors.

The new appointments come under the leadership of Acting CFTC Chair Caroline D. Pham, who assumed the role in January 2025.

Congrats to @chainlinklabs General Counsel Ben Sherwin on his appointment to the @CFTC’s Digital Asset Markets Subcommittee of the Global Markets Advisory Committee!@chainlink https://t.co/aqcrasmOwb

With a commissioner term running through 2027, Pham has launched a “Crypto Sprint” aimed at executing key recommendations from the President’s Working Group on Digital Assets.

The initiative also aims to address the overlapping authority between the CFTC and the SEC.

Wall Street institutions have shown increased interest in tokenized finance. BNY Mellon recently partnered with Goldman Sachs to tokenize money-market funds, while JPMorgan continues to explore crypto-backed lending and blockchain-based settlement.

The regulatory momentum comes as President Donald TRUMP signs the GENIUS Act into law and champions crypto-friendly legislation in Congress.

The House has already passed bills focused on market structure and banning a central bank digital currency (CBDC), with both measures now awaiting Senate review.

Together, these developments mark a decisive shift in US regulatory posture, with the CFTC expanding its role as a key player in shaping the future of crypto finance.

Crypto Bill Redefines SEC-CFTC Roles, Shields DeFi Developers

A newly revised draft of the Responsible Financial Innovation Act of 2025 outlines a clearer regulatory framework for digital assets in the US, aiming to reduce conflict between the SEC and CFTC.

The bill proposes a Joint Advisory Committee on Digital Assets, with both agencies required to publicly respond to its findings, a MOVE intended to boost transparency and coordination. A public roundtable on the topic is scheduled for September 29.

The draft includes explicit protections for DeFi developers, validators, wallet builders, and infrastructure contributors, so long as the underlying protocol is not centrally controlled.

Additionally, the bill redefines how common crypto activities are treated under securities laws.

Airdrops, staking rewards, and DePIN tokens are categorized as “gratuitous distributions” rather than securities.