PANews reported on March 24 that Michael S. Selig , Chairman of the U.S. Commodity Futures Trading Commission ( CFTC ), announced the establishment of an " Innovation Task Force " dedicated to developing a clear regulatory framework for new products and technologies in the U.S. derivatives market. The task force will collaborate with the Innovation Advisory Committee, focusing on providing rule recommendations in areas such as crypto assets and blockchain technology, artificial intelligence and autonomous systems, and prediction markets and event contracts. It will also coordinate with federal agencies, including the Securities and Exchange Commission ( SEC ) and its Crypto Task Force, to advance related innovation agendas. The task force will be led by Michael J. Passalacqua , Senior Advisor to the Chairman.