TLDR
- CFTC Chair Michael Selig says U.S. markets should prepare for mass tokenization, onchain finance and round-the-clock trading.
- He said blockchain and AI could reshape financial markets more over the next decade than in several previous decades combined.
- The CFTC is exploring broader stablecoin use and has already sought feedback on 24/7 derivatives trading.
- The SEC last week approved a temporary exemption allowing limited onchain trading of tokenized U.S. stocks.
- Both regulators are moving ahead with crypto and tokenization initiatives while broader market-structure legislation remains stalled in Congress.
CFTC Chair Michael Selig says U.S. financial markets need to prepare for a future dominated by tokenization, blockchain infrastructure and 24/7 trading. Speaking at the U.S. Treasury Market Conference in New York, Selig said technological changes could reshape the structure of financial markets over the coming decade.
🇺🇸 JUST IN: CFTC Chairman Selig says US markets must prepare for "mass tokenization" as blockchains and AI are "adopted at scale."
Selig told the US Treasury Market Conference that "the next decade will likely bring more change to financial markets than the previous several… pic.twitter.com/IsmeOIeYnl
— Coin Bureau (@coinbureau) September 22, 2026
His comments come as both the Commodity Futures Trading Commission and Securities and Exchange Commission move forward with policies aimed at bringing more financial activity onchain. Tokenized securities, stablecoins and round-the-clock markets have become increasingly important areas of focus for U.S. regulators.
CFTC Prepares for Tokenization and 24/7 Markets
Selig said regulators should adapt existing markets to technologies including blockchain and artificial intelligence. He argued that tokenization, onchain finance and continuous trading could create more change in the next decade than markets have experienced over several previous decades.
Tokenization involves representing traditional assets such as stocks, bonds or other financial instruments on blockchain networks. Supporters say the technology could make settlement faster, allow markets to operate for longer hours and introduce more programmable financial products.
The CFTC has already begun examining how existing market rules may need to change. Over the past year, the agency has sought public feedback on 24/7 trading in energy derivatives and other changes linked to increasingly continuous markets.
Stablecoins are another focus. The CFTC has expanded the types of eligible collateral available to market participants and Selig said the regulator intends to look for additional ways to support responsible stablecoin use by exchanges, clearinghouses and traders.
SEC Pushes Tokenized Stock Trading Forward
The CFTC’s comments follow a major move from the SEC last week. On September 17, the SEC approved a temporary, conditional exemption allowing certain Tokenized Securities Venues to trade tokenized U.S.-listed stocks through permissioned onchain systems.
The exemption allows approved venues to use automated market makers and liquidity pools while operating under specific transparency, recordkeeping and technology requirements. The SEC said the framework is intended to let regulators observe how tokenized stock trading works before deciding on permanent rules.
SEC Chair Paul Atkins said the exemption is designed as a bridge toward longer-term rulemaking rather than a permanent regulatory structure. The SEC is also seeking public feedback while tokenized stock venues begin operating under the temporary framework.
The exemption gives traditional U.S. equities a clearer route onto blockchain-based trading venues. It also creates new opportunities for firms involved in tokenization, stablecoin settlement and onchain market infrastructure.
Regulators Move Ahead as Congress Stalls
The regulatory push comes while broader federal crypto legislation remains unresolved. The CLARITY Act recently failed to advance in the Senate, leaving the SEC and CFTC to continue using their existing authority while lawmakers negotiate over a wider market-structure framework.
Selig framed the current changes as part of a broader effort to keep U.S. financial markets competitive as technology evolves. His comments suggest the CFTC expects tokenized assets and round-the-clock markets to become increasingly common rather than remain limited to the crypto sector.
The SEC’s recent stock-tokenization exemption points in the same direction. For now, both agencies are gradually adapting existing regulations while gathering data from new market structures.
The next phase will depend on how quickly institutions adopt tokenization, whether stablecoins gain a larger role in settlement and whether 24/7 trading expands beyond crypto into traditional financial markets.
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