The CFTC's Innovation Commission has recently expanded its Innovation Council by integrating leading CEOs in the cryptocurrency space, such as Gemini, Kraken, Polymarket, and Bitnomial. This initiative aims to enhance the regulatory framework for cryptocurrencies in the United States and encourage closer cooperation between regulators and the industry.

*Objectives of the Innovation Council*

- Provide insights on risks, infrastructure, and emerging trends in the cryptocurrency space

- Assist the CFTC in establishing smarter rules that align with the actual behavior of digital markets

- Encourage growth and responsible participation in the cryptocurrency sector

*The Senate is preparing to vote on Mike Sigel*

The U.S. Senate is currently reviewing the nomination of Mike Sigel for the position of chairman of the CFTC. Sigel is considered a candidate favorable to the cryptocurrency industry, and his confirmation could influence the strategic direction of the agency.

*A more collaborative future for cryptocurrency regulation*

The Innovation Council aims to break down old barriers between regulators and developers, and to encourage constructive dialogue among stakeholders. This approach is expected to reduce confusion and improve compliance planning for cryptocurrency businesses.