US CFTC Chair: Markets Need to Prepare for Large-Scale Tokenization and 24/7 Trading

Odaily reports: Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that regulators need to prepare for large-scale tokenization and adjust existing market rules for new technologies such as blockchain and AI. With the development of tokenization, on-chain finance, and 24/7 trading, the changes in financial markets over the next decade may exceed the sum of those over the past several decades. The CFTC will seek more ways to encourage market participants, exchanges, and clearinghouses to responsibly adopt stablecoins; over the past year, the agency has issued guidance and sought public comment on 24/7 trading in energy derivatives markets, and in February of this year, it included stablecoins issued by national trust banks within the scope of eligible collateral. The U.S. Securities and Exchange Commission (SEC) last week released an "innovation exemption" to provide room for on-chain trading of tokenized stocks.