Christopher Giancarlo, acting chairman of the U.S. Commodity Futures Trading Commission, announced an innovation lab this month designed to further the future of fintech. The initiative, which draws on the idea of giving fintech companies in the commodities and derivatives markets greater access to the commission, is intended to bring “21st century regulation for today’s capital markets.” But in a speech delivered May 17, Giancarlo stopped short of referring to the initiative, LabCFTC, as a regulatory sandbox — an environment in which companies can test new products and business models without worrying about regulatory consequences — because so far there is no intention of providing any regulatory relief for participating companies.
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