The US Commodity Futures Trading Commission (CFTC) is looking to embrace innovation in its regulatory approach to crypto and blockchain with the launch of a new Innovation Task Force, according to a Tuesday notice.

Chair Michael Selig said that the task force will work with the regulator’s Innovation Advisory Committee to create a framework focused on crypto, blockchain, AI, and prediction markets. The effort will be led by Michael Passalacqua, who joined the CFTC as a senior adviser in January after working on crypto and blockchain issues at international law firm Simpson Thacher & Bartlett.

“The idea behind our innovation advisory task force is really to create a space where innovators and builders can come in and talk to the…