CFTC Chair Raises Liability Questions as AI Agents Trade Crypto

Autonomous software that holds crypto and executes trades for users raises questions about how existing financial rules should apply, CFTC Chair Michael S. Selig said at a forum Oct. 28. At the Commodity Futures Trading Commission’s inaugural Frontier Forum in Washington, Selig described AI as a technology rapidly changing financial markets. He referenced President Donald Trump’s description of it as “super intelligence” and compared its reach with past technologies such as the printing press, steam engine and internet. Selig illustrated the issue with a refrigerator that stakes Ether and uses the rewards to pay for groceries. He called the scenario “no longer science fiction,” using it to show how software might hold assets and transact for a user.

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