2 weeks ago
Commodity Futures Trading Commission (CFTC) Acting Chairman Caroline Pham announced connected Sept. 23 that the bureau will motorboat an initiative to alteration tokenized collateral successful derivatives markets, including stablecoins.
The announcement builds connected the CFTC’s February 2025 Crypto CEO Forum and forms portion of the agency’s crypto sprint, implementing recommendations from President Donald Trump’s Working Group connected Digital Asset Markets report.
Pham described the inaugural arsenic advancing “America’s Golden Age of Crypto” done the modernization of blockchain exertion successful collateral absorption systems.
The CFTC aims to heighten superior ratio by enabling marketplace participants to deploy assets much efficaciously successful derivatives trading.
Pham stated:
“The nationalist has spoken: tokenized markets are here, and they are the future. “For years I person said that collateral absorption is the ‘killer app’ for stablecoins successful markets. Today, we are yet moving guardant connected the enactment of the CFTC’s Global Markets Advisory Committee from past year.”
The CFTC invited stakeholder feedback, with nationalist comments owed Oct. 20.
Industry support
Major crypto firms endorsed the inaugural done statements supporting the integration of stablecoin derivatives.
Circle president Heath Tarbert noted that the GENIUS Act creates a regulatory model that enables outgo stablecoins from licensed American companies to service arsenic collateral successful derivatives and accepted fiscal markets.
Coinbase organization merchandise VP Greg Tusar characterized stablecoins arsenic “the aboriginal of money” and tokenized collateral arsenic the opening of broader marketplace transformation.
Crypto.com co-founder Kris Marszalek highlighted discussions from the Crypto CEO Forum astir delivering innovations that remained extracurricular US markets nether erstwhile regulatory approaches.
Ripple SVP Jack McDonald emphasized the value of establishing wide rules for valuation, custody, and colony to supply organization certainty portion maintaining due guardrails connected reserves and governance.
Non-cash collateral
The inaugural implements recommendations from the CFTC’s Global Markets Advisory Committee’s Digital Asset Markets Subcommittee connected expanding the usage of non-cash collateral via distributed ledger technology.
The President’s Working Group study directs the CFTC to usher the adoption of tokenized non-cash collateral arsenic a regulatory margin.
Pham antecedently projected a CFTC aviator programme serving arsenic a regulatory sandbox to supply clarity for integer plus markets portion ensuring robust guardrails. The bureau has operated palmy aviator programs since the 1990s.
The station CFTC launches inaugural to alteration stablecoins arsenic derivatives marketplace collateral appeared archetypal connected CryptoSlate.
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