US CFTC to use AI for crypto registration reviews

U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig told CoinDesk that the agency plans to use artificial intelligence (AI) to enhance its review of cryptocurrency registrations and its monitoring of trading. He explained that the CFTC is building a system to automatically review applications, screen for incomplete materials, and issue rejections. Selig added that the agency also intends to leverage AI for market surveillance, noting that such measures are necessary to improve efficiency after a workforce reduction of over 20%.