CFTC's Technology Advisory Committee to Meet July 18

Commissioner Christy Goldsmith Romero, sponsor of the Commodity Futures Trading Commission’s Technology Advisory Committee (TAC), held a public meeting on Tuesday, July 18, from 12:00 p.m. to 4:30 p.m. (EDT) at the CFTC’s Washington, D.C. headquarters. The TAC continued its examination of responsible artificial intelligence (AI), focusing on the use of AI in the financial sector. Decentralized finance (DeFi) models such as decentralized autonomous organization (DAO) and the Commission’s recent Ooki DAO case were discussed, in addition to other DeFi issues. Also discussed were cyber resilience, including cyber threats to the financial sector, as well as a presentation by a prudential regulator on the recently released interagency guidance on third party cyber risk. Along with artificial intelligence, decentralized finance, and cyber resilience, the TAC introduced three subcommittees approved by the Commission. This included the newly constituted subcommittees on: (1) Digital Assets and Blockchain Technology; and (2) Emerging and Evolving Technologies; as well as the re-established (3) Cybersecurity Subcommittee.