Caroline Pham, a commissioner at the Commodity Futures Trading Commission (CFTC), is forming a new CEO Innovation Council to strengthen the agency’s engagement with the digital asset industry. The initiative aims to bring in chief executives to help guide the regulator as it prepares for an expanded role in crypto oversight.

Pham announced the call for nominations for the new council, setting a submission deadline of December 8.

Preparing for Broader Oversight

The move comes as the CFTC anticipates a larger role in regulating cryptocurrencies. Bipartisan bills in both the House and Senate propose giving the agency broader authority over digital assets, though the timing for any final legislative action remains uncertain after earlier targets were missed.

While awaiting new legislation, the agency has been proactive. It recently launched a “Crypto Sprint” to clarify existing rules and has also signaled its intent to introduce regulated spot trading products, which would include leveraged offerings.

A Call for Industry Collaboration

In a statement, Pham emphasized the need for collaboration with industry experts to effectively regulate the evolving market. “In order to hit the ground running, it is critical that the CFTC drives public engagement with the support of expert industry leaders and visionaries who are building the future,” she said.

She framed the council as an opportunity for industry leaders to help build a sound regulatory framework. “That is why today I am calling upon CEOs to join us in shaping responsible regulations that will lay the foundation for America’s Golden Age of Innovation,” Pham added.