According to CoinMeta, CFTC Chairman Michael Selleger stated that regulatory authorities must provide space for financial innovation in order for the global derivatives market to enter a new stage of development. In an article for The Economist, he argued that regulators should avoid introducing rules that may limit competition and hinder the introduction of new financial products. Selleger pointed out that derivatives, including futures, options, and swaps, enable companies, farmers, investors, and financial institutions to manage risks and allocate capital. He estimated the notional value of these contracts globally to be over $1.2 trillion, of which the markets regulated by CFTC account for nearly half. Selleger emphasized that the United States' leading position is due to market competition, strong institutions, effective supervision, and an openness to new technologies.