During the meeting of The Technology Advisory Committee of the United States Commodity Futures Trading Commission (CFTC), the attendees have had a fruitful discussion about crypto regulation and distributed ledger technology (DLT) adoption.

The discussion was kicked-off by consensus mechanism topic, which was stated by Director of Research at Coin Center, Peter Van Valkenburgh. As a response, CFTC Commissioner Brian Quintenz has stated that Ethereum is going to move up to proof-of-stake (PoS) from proof-of-work (PoW) mechanism.

Going further, Kathryn Trkla and Charley Mills, members of the American Bar Association’s Jurisdiction Working Group, have presented their opinions based on the““Digital and Digitized Assets: Federal and State Jurisdictional Issues” report. The committee then shifted their focus on the current crypto and blockchain regulations in multiple countries, i.e. USA, Malta and Switzerland.

Moving forward to the DTL adoption topic, the Distributed Ledger Technology and Market Infrastructure Subcommittee has listed out some worth-noticing use cases of the technology. The panel later discussed on how CFTC’s guidance could benefit the further development of DLT.

As DLT is being tested and adopted in the derivatives space, the association discussed on the ability to automate trading processes and digitize financial transactions.