Chairman of the U.S. Commodity Futures Trading Commission (CFTC) Christopher Giancarlo outlined his agency’s interest in blockchain technology during a Congressional hearing Wednesday, July 25. The chairman emphasized the need for the appropriate procedures that would enable the CFTC to examine innovative blockchain tech for potential future use cases.
The hearing, titled “Examining the Upcoming Agenda for the CFTC,” was convened by the House Committee on Agriculture. During the hearing, Giancarlo was asked by Congressman Austin Scott to explain the goals of LabCFTC, a dedicated hub for “engagement with the fintech innovation community” that was set up by the agency last year. The chairman elaborated: