The Commodity Futures Trading Commission announced on May 17 that it will create "LabCFTC," an initiative based in the CFTC's New York office that will inform the CFTC's understanding of new technologies and promote technological innovation in derivatives markets.
"LabCFTC is intended to help us bridge the gap from where we are today to where we need to be: Twenty-First century regulation for 21st century digital markets," said Acting Chairman Chris Giancarlo.
In a press release describing the initiative, the CFTC said it will provide a "dedicated point of contact" for fintech innovators to engage with the CFTC, both in person and online. This will allow innovators to obtain feedback on CFTC regulations that may affect the implementation of new technologies.
The CFTC said the initiative also will support the agency's efforts to adopt new technologies that may enable it to modernize its operations and carry out its responsibilities "more effectively and more efficiently." This could include supporting research on innovation as well as participating in conferences, hackathons, competitions and other events.
Click here for the CFTC announcement
Click here for the LabCFTC webpage
