CFTC Chair Selig urges markets to prepare for mass tokenisation

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Commodity Futures Trading Commission (CFTC) Chair Michael Selig said financial markets need to prepare for a major expansion of tokenisation, as blockchain-based finance and 24-hour trading gain ground.

Speaking at a US Treasury Market conference hosted by the Federal Reserve Bank of New York on Tuesday, Selig said developments such as tokenisation, onchain finance and round-the-clock trading could reshape financial markets over the next decade.

He said regulators should adapt existing market structures to new technologies, including blockchain and artificial intelligence, while maintaining the foundations of the current financial system.

“With developments like tokenisation, on-chain finance and 24/7 trading, the next decade will likely bring more change to financial markets than the previous several decades combined,” Selig said.

Selig also said the US should maintain its position as a global financial leader. He pointed to the Trump administration’s focus on innovation, competition and regulatory changes as part of efforts to support that position.