The U.S. Commodity Futures Trading Commission has revealed the initial members of the new Innovation Working Group as the agency continues its efforts to provide greater clarity to the cryptocurrency market.

Chairman of the Commodity Futures Trading Commission, Mike Selig, launched the Innovation Working Group on March 24, appointing Michael Pasalakua as its head. Pasalakua currently serves as Selig's senior advisor at the CFTC.
In a statement issued on Friday, the CFTC said that Pasalakua will join a list of five initial members, including Hank Balaban, a former attorney at Latham & Watkins law firm specializing in cryptocurrencies; Sam Kanavos, a former advisor at Patomak Law Firm specializing in cryptocurrencies and prediction markets; Mark Fagvar, a veteran attorney at the CFTC; Eugene Gonzalez IV, a former attorney at Sidley Law Firm specializing in blockchain technology; and Dena Musa, a special advisor in the CFTC’s Market Participants Division.
Selig said, "The Innovation Working Group brings together a leading team with deep expertise and a passionate commitment to providing clear rules for American innovators."