CFTC Chairman announces launch of 'Future Proof' program to upgrade the agency's cryptocurrency regulatory approach According to The Block, Michael Selig, Chairman of the US Commodity Futures Trading Commission, announced the launch of the "Future Proof" program, aimed at comprehensively upgrading the agency's regulatory approach to digital assets. In his first month in office, Selig stated that the CFTC needs to "upgrade" and plans to conduct a wide-ranging review of its rules, with the goal of achieving the "minimum effective regulatory dose". He pointed out that decades old regulations designed for agricultural futures contracts still apply to traditional markets, but do not cover emerging products or trading venues, and the CFTC must upgrade its methods to unleash innovation. Despite the legislative process being stalled last week due to disagreements over the handling of stablecoin earnings, Selig stated that the CFTC is ready to regulate the cryptocurrency industry and said that if Congress passes legislation to make the United States a cryptocurrency hub, the CFTC will take on a series of new responsibilities. The plan seems to also cover forecasting the market. Selig stated that with the emergence of new asset classes and the evolution of CFTC roles, the guidelines developed should not only be suitable for products, but also serve customized regulatory purposes. He revealed that the agency plans to announce more 'policy changes' in the coming days.