CFTC Chair signals shift toward mass tokenization and 24/7 trading

CFTC Chairman Michael Selig has signaled a major shift in U.S. financial markets, stating that the industry must prepare for “mass tokenization,” onchain finance, and 24/7 trading within the next decade. Speaking at the U.S. Treasury Market Conference, Selig noted that tokenizing real-world assets could enable near-instant settlement and real-time movement of collateral. While he suggested crypto and precious metals might be suited for continuous trading, he noted that agricultural and energy products may not be ready for such a transition.

The CFTC is already taking steps toward this digital transformation, including expanding eligible collateral to include certain payment stablecoins issued by national trust banks. Simultaneously, the SEC has moved to facilitate onchain trading through temporary “Innovation Exemptions” for tokenized securities.

Industry leaders, such as BitGo CEO Mike Belshe, have also advocated for tokenization as a means to modernize legacy settlement systems and improve financial access. Meanwhile, the CFTC is expanding its focus to include the role of artificial intelligence and agentic finance through its Innovation Task Force, hosting upcoming forums to discuss how these technologies can be integrated responsibly into market infrastructure.