US futures regulator announces new office to track crypto

The regulatory body that could soon be responsible for overseeing cryptocurrencies in the US is beefing up its tech team.

The Commodities and Futures Trading Commission (CFTC), which is soon to become responsible for oversight of digital assets under the proposals of a bipartisan congressional bill, is creating a new "Office of Technological Innovation".

The new office will replace the existing technology team known as the LabCFTC.

When the rebranding to the Office of Technological Innovation is complete, the unit will be led by a director reporting to the main body's office.

In addition to employing experts in the field, the office will give the CFTC team the chance to switch sectors within the body and gain experience working in the cryptocurrency market.