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Recently, it was reported that Mr. Sergey Nazarov, co-founder of the Chainlink project, was appointed as a member of the Innovation Advisory Committee of the U.S. Commodity Futures Trading Commission (CFTC). This move reflects the digital currency industry’s increasing participation in the formulation of regulatory frameworks.
The committee was established at the initiative of Authority Chairman Michael Selig and includes leaders from the traditional finance and digital currency industries to provide advice on emerging technologies and how to regulate them in a way that maintains market integrity and encourages innovation.
Commenting on the appointment, Nazarov said the CFTC’s direct engagement with the industry is an important step in establishing clear rules that support innovation and strengthen the United States’ position in global markets.
The “Chainlink” project is one of the most famous decentralized “oracle” networks because it connects smart contracts with external data and facilitates the implementation of transactions worth more than $25 trillion.
The project is currently focused on enterprise scaling through data feeds and network interoperability solutions, allowing financial institutions and decentralized applications to run across multiple blockchain networks and connect digital systems with real-world data.
Nazarov joins representatives from major institutions such as Nasdaq, CME Group, Intercontinental Exchange, Coinbase and Robinhood as part of the CFTC’s efforts to strike a balance between encouraging innovation and maintaining market stability.
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