Donald Trump · CoinDesk
CFTC chief poses questions about policing AI but calls it a road to 'autonomous trading'
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Chairman Mike Selig's U.S. Commodity Futures Trading Commission has thrown his agency's doors open to several recent developments in financial technology, including crypto, prediction markets and, at a forum on Wednesday, artificial intelligence.
Key facts
- The CFTC is holding several roundtables on new or growing issues, announcing Wednesday it would soon hold another meeting on 24/7 trading
- The Securities and Exchange Commission, its sister regulator, held a similar roundtable on the topic last month
- Chairman Mike Selig's U.S. Commodity Futures Trading Commission has thrown his agency's doors open to several recent developments in financial technology, including crypto, prediction markets
- Consider an SI agent that identifies trading opportunities and executes transactions on behalf of a user," he suggested
Summary
Chairman Mike Selig's U.S. "The convergence of superintelligence, crypto, and modern financial infrastructure could transform our markets," Selig said. The price of participation for AI insiders at the forum seems to have been adopting President Donald Trump's demand that the non-organic, machine intelligence be referred to as "super intelligence" or SI, which the panelists did (despite their own companies or social media feeds still relying on the commonly used term outside the agency's walls). "It's as real as the printing press, the steam engine, and the internet," he said. From the perspective of the regulator of derivatives markets, he said that his agency's staff is already leaning heavily into using AI to police those markets.