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CFTC Appoints Crypto Heavyweights to 35-Person Advisory Panel

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CFTC Appoints Crypto Heavyweights to 35-Person Advisory Panel


CFTC forms 35-member advisory panel stacked with crypto leaders as regulator signals shift toward friendlier digital asset rules.

The U.S. Commodity Futures Trading Commission (CFTC) has selected several cryptocurrency executives to serve on its newly created Innovation Advisory Committee (IAC).

This development comes as the agency, led by Chair Michael S. Selig, continues to indicate that his administration plans to adopt a more permissive approach to regulating the digital asset industry.

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IAC Appointee List Announced

Of the 35 members making up the panel, 20 are tied to companies involved in crypto, while at least five are involved in prediction markets. Among them are Crypto.com CEO Kris Marszalek, Gemini co-founder Tyler Winklevoss, Kalshi CEO Tarek Mansour, and Polymarket architect Shayne Coplan.

“Today marks an important and energizing moment at the CFTC as the Innovation Advisory Committee takes shape,” said Selig in a Thursday press release.

Additional members include Anchorage Digital’s top executive, Nathan McCauley, Grayscale’s Peter Mintzberg, Robinhood CEO Vladimir Tenev, Solana’s Anatoly Yakovenko, as well as Ripple chief Brad Garlinghouse, and Coinbase’s Brian Armstrong.

Executives at Paradigm, DraftKings, and the Depository Trust & Clearing Corporation (DTCC) were also included, together with representatives from traditional finance institutions such as Cboe, CME, Nasdaq, and the Options Clearing Corporation (OCC), among other firms.

Selig said the main aim is to ensure America remains the home to the most transparent and well-regulated financial markets in the world.

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 “By bringing together participants from every corner of the marketplace, the IAC will be a major asset for the Commission as we work to modernize our rules and regulations for the innovations of today and tomorrow,” he added.

Market Innovation and Crypto Regulation Streamlining

The IAC, launched in January, replaces the Technology Advisory Committee (TAC), which previously provided guidance on how emerging technologies were affecting derivatives markets.

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The new body will serve as a resource on developments in derivatives and commodity markets, helping the Commission assess how innovations such as artificial intelligence (AI) and blockchain are reshaping financial systems and informing the development of adaptive regulatory frameworks.

The CFTC has also begun coordinating with the Securities and Exchange Commission (SEC) through a joint initiative known as “Project Crypto.”

The effort is aimed at harmonizing regulatory approaches to digital asset markets, reducing jurisdictional overlap between the agencies, and providing clearer and more predictable rules for cryptocurrency companies operating in America.

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Crypto World

Crypto Scam Leader Extradited to China to Face Charges

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Crypto Scam Leader Extradited to China to Face Charges

Li Xiong, a key member of a group that allegedly helped crypto scam rings in Asia to move money, has been extradited from Cambodia to China, where he will face fraud and money laundering charges, according to Hong Kong-based news outlet Ta Kung Wen Wei.

On April 1, with strong support from the relevant authorities in Cambodia, a task force sent by China’s Ministry of Public Security successfully escorted Li Xiong, a core key member of the Chen Zhi criminal syndicate, back to China from Phnom Penh, Cambodia,” it said on Wednesday, citing a statement from China’s Ministry of Public Security on WeChat.

Xiong previously served as chairman of Huione Group, an alleged criminal organization that served scam centers in Cambodia that carried out “pig butchering” scams and other investment schemes to steal crypto from victims around the world. 

Huione Group was responsible for one of the largest illicit online marketplaces in the world, handling over $89 billion in cryptoassets.

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Source: Jacob in Cambodia

His extradition comes three months after the arrest of Chen Zhi, the head of Prince Group, which operates Huione Group. In October, it was reported that the US Department of Justice seized 127,271 Bitcoin (BTC) worth more than $15 billion from Zhi.

Related: Hong Kong retiree loses $840K in triple ‘crypto expert’ scam

The US Treasury Department’s Financial Crimes Enforcement Network directed US banks to cut payments and accounts tied to the Huione Group in October.

Authorities ask other Huione members to surrender

Ta Kung Wen Wei noted that several other members of Zhi’s criminal syndicate have been brought to justice “one after another,” citing comments from Chinese public officials.

“Public security authorities will continue to intensify efforts to capture fugitives,” it said, adding:

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“At the same time, they once again warn criminals to recognize the situation, stop before it is too late, surrender as soon as possible, and strive for lenient treatment.”

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