Giancarlo urges CFTC-led crypto rules, Congress to close regulatory gaps

2 min

Washington, D.C., November 6, 2026 — The Digital Sovereignty Alliance (DSA) participated in the Strobe Summit, where DSA Managing Director Adrian Wall moderated a fireside chat with former Commodity Futures Trading Commission (CFTC) Chair Christopher Giancarlo on U.S. digital asset regulation and the future of financial markets.

Focus of the discussion

The session, “Crypto at a Crossroads: Regulation, Institutional Adoption, and the Future of Financial Markets,” addressed policy paths amid legislative uncertainty and growing institutional interest in blockchain-based infrastructure. Giancarlo outlined a two-track approach: implement clear exchange rules under existing CFTC authority and pursue congressional action to resolve remaining gaps.

Participants examined implications of the GENIUS Act: financial privacy risks and the prospect that dollar-backed stablecoins could function as a 24/7 global payment rail. This raised questions about how dollars move on-chain and which entities provide and secure that infrastructure.

Regulatory priorities and market structure

The conversation covered prediction markets, perpetual futures, and decentralized finance. Key regulatory issues: the CFTC’s role in overseeing event contracts; pathways to bring offshore derivatives activity into regulated U.S. venues; enabling 24/7 trading; and assigning accountability for decentralized platforms that lack traditional intermediaries.

Framework needs identified: market integrity, cybersecurity, customer asset protection, and alignment with the operational realities of interconnected markets. Wall emphasized that clarity depends on rules calibrated to how digital asset markets function, with the CFTC addressing market structure where it has authority and Congress closing jurisdictional and policy gaps. Outcomes at stake: onshoring activity, institutional adoption, participant protection, and preservation of innovation and financial privacy.

About the Digital Sovereignty Alliance

The Digital Sovereignty Alliance (DSA) is a nonprofit social welfare organization that advocates for public policies supporting ethical innovation in decentralized technologies, blockchain, cryptocurrency, Web3, and artificial intelligence. DSA conducts research, organizes educational events, and promotes policies that prioritize public welfare and digital sovereignty.