CFTC prepares Wall Street for mass tokenization

Michael Selig, chairman of the Commodity Futures Trading Commission (CFTC), told bond market specialists at the New York Fed that the next decade will transform U.S. finance more than all previous decades combined. He emphasized the need to prepare for mass tokenization, highlighting ongoing initiatives such as accepting stablecoins as collateral, enabling continuous trading, and facilitating on-chain tokenized assets. While comprehensive crypto legislation remains pending in the Senate, the CFTC and SEC are advancing through administrative actions to modernize market infrastructure.