CFTC Chair Mike Selig emphasized that the CFTC has the only regulatory authority over prediction markets, and that states cannot replace federal oversight. At the same time, the CFTC is clarifying regulatory details through rulemaking and welcomes public input. In addition, the digital asset classification guidance jointly released by the CFTC and the SEC will help businesses clearly determine the nature of digital assets.

U.S. Commodity Futures Trading Commission Chair Mike Selig announced the formation of an Innovation Working Group, aimed at providing industry rules for innovators. The working group consists of five experts, focusing on advancing regulatory clarity and market integrity in areas such as cryptocurrency, blockchain, and AI.

Cynthia Lummis, chair of the U.S. Senate Digital Assets Banking Subcommittee, chaired a roundtable in Wyoming to discuss the state’s digital asset regulation and the two-track banking system, emphasizing Wyoming’s leading position in the digital asset space and its influence on federal policy.

Securitize, an asset tokenization platform, appointed Brett Redfearn as President and a member of the board of directors on April 9. Redfearn previously served as Chair of the advisory committee and has extensive experience in regulation and market structure, helping advance the development of capital markets.

The U.S. Securities and Exchange Commission (SEC) appointed David Woodcock as the new head of its enforcement division on April 8, replacing the departing official. Woodcock does not have a background in the crypto industry, and the appointment comes amid controversy over the SEC’s actions in crypto enforcement. The SEC chair said the move will strengthen efforts to crack down on misconduct by investors.

Gate News update: On April 8, U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins announced that he has ended “enforcement-led regulation,” and said that the seven crypto-related registration cases brought by the previous administration were a “misallocation of resources,” providing no direct benefit to investors.

Seven members of the U.S. House of Representatives sent a letter to the CFTC Chair, questioning the regulator’s lack of enforcement regarding insider trading in prediction markets related to Iran and Venezuela, and requesting answers to six questions from the CFTC. The incident has sparked concerns about the legitimacy of prediction markets and the strength of regulatory oversight, and the CFTC has pledged to pursue selective enforcement. As the market expands, in the absence of clear regulations, investors need to pay attention to possible policy changes and their impacts.

The U.S. Securities and Exchange Commission (SEC) acknowledges that its prior enforcement actions against the crypto industry have had shortcomings, emphasizing that the focus should not be on the number of cases. Since February 2025, seven crypto cases have been withdrawn, with the goal of adjusting policy. The new chair, Atkins, is pushing for regulatory innovation, proposing a “safe harbor” mechanism designed to give compliant space to startup crypto projects and aiming to reshape the industry’s compliance path.

Gate News message: On April 8, the U.S. Federal Deposit Insurance Corporation (FDIC) officially released guidance for financial institutions and their financial-technology subsidiaries on the use of stablecoins. FDIC Chair Travis Hill said on Tuesday during a Board meeting in Washington that the new guidance will set out corresponding rules on areas including reserve assets, stablecoin redemptions, permitted activities, and capital requirements to address the growing adoption of digital currencies in the financial system.