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U.S. CFTC's fintech lab to host office hours to engage with innovators

Thu, 13 Feb 2020, 06:54 am UTC

The United States Commodity Futures Trading Commission’s (CFTC) fintech lab is going to host office hours on April 1.

In an announcement, LabCFTC said that it will host office hours during New York Fintech Week to engage with innovators in this field.

"Office Hours provide FinTech innovators and entrepreneurs an opportunity to engage with LabCFTC to discuss ideas, share a presentation, and gain better understanding of CFTC’s framework," the notice reads.

LabCFTC was established in 2017 to make the CFTC more accessible to FinTech innovators and to serve as a platform to inform the CFTC's understanding of new technologies. It directly reports to the authority’s chairman Heath Tarbert. In October 2019, the CFTC upgraded LabCFTC as an independent operating office.

“Blockchain, digital assets, and other developments hold great promise for our economy. Now is the time for LabCFTC to play an even greater role as we work to develop and write the rules for these transformative new products. That reality requires engagement at the highest levels within the CFTC, which is why I am elevating LabCFTC to be an independent operating office of the agency and a direct report to me,” Tarbert said about the office, Cointelegraph reported.

LabCFTC has released its primer on artificial intelligence (AI) in the financial markets, as well as on virtual assets and smart contracts.

Meanwhile, former CFTC Chair J. Christopher Giancarlo along with Charles Giancarlo and Daniel Gorfine partnered with Accenture last month on a new initiative pushing for a United States central bank digital currency (CBDC).

“We are launching the Digital Dollar Project to catalyze digital, tokenized U.S. currency that would coexist with other Federal Reserve liabilities and serve as a settlement medium to meet the demands of the new digital world and a cheaper, faster and more inclusive global financial system,” J. Christopher said.

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