Digital Currency Revolution Series: LabCFTC Launches Fintech-Focused Virtual Event Series

Recently, the fintech-wing of US CFTC, ‘LabCFTC’ launches ‘Project Streetlamp’ to eliminate unregistered entities, including crypto-derivatives.

The Commodity Futures Trading Commission today announced that LabCFTC will present Empower Innovation 2020, a series of interactive virtual events throughout the fall. The three-part series will facilitate a dialogue among innovators, regulators, market participants, and the public around cutting-edge fintech innovation. In light of the COVID-19 (coronavirus) pandemic, the Empower Innovation 2020 series will be held in lieu of the 2020 Fintech Forward conference.

Under their strategic goal 3 section, the regulator recognizes the financial markets’ approach of rapidly deploying budding technologies, and their derivatives instruments have experienced a considerable digital transformation that presents opportunities as well as risks, and hence, they seem to be encouraging the innovation and enhance the regulatory experience for the market participants at home and abroad. The broad strategy is conducive for profoundly innovation that Tarbert and his forerunners at the CFTC have been striving for the crypto-space.

“COVID-19 has demonstrated why fintech innovation is critically important,” said LabCFTC Director and CFTC Chief Innovation Officer Melissa Netram. “Empower Innovation 2020 will focus on cutting-edge financial technology and innovation, educate on emerging technology and innovation practices of today, and discuss the impact of technology and innovation during the pandemic.”

“As we approach the 10-year anniversary of Dodd-Frank, this virtual series is an opportunity to reflect on the past as we discuss tomorrow’s innovation today,” said Shivon Kershaw, LabCFTC Senior Innovation and Education Advisor. “It’s key to have a clear line of sight to the future while highlighting responsible innovation that continues to thrive around the globe, despite today’s challenges. Our aim is that the discussion from this series empowers both innovators and regulators collectively.” 

The Commodity Futures Trading Commission has recently announced the finalization of the agency’s 2020-2024 Strategic Plan. The plan was unanimously approved by the Commission in May and was subject to a 30-day comment period that ended in June.

In its press release on July 8th, it has also released the strategic plan for the next four years, wherein the United States Commodity Futures Trading Commission has hinted about the comprehensive crypto regulation in their agenda.