CFTC CEO Forum Includes Circle, Coinbase, Crypto.com, Ripple in Pilot Program ⋅ Crypto World Echo
The Commodity Futures Trading Commission (CFTC) is set toorganize a CEO Forum with industry firms to discuss the upcoming launch of itsdigital asset markets pilot program. The focus of the program will be ontokenized non-cash collateral, such as stablecoins.
Participants in the forum are expected to include companieslike Circle, Coinbase, Crypto.com, and Ripple. Further details on the forumwill be provided once the arrangements are finalized.
CFTC Launches Digital Asset Pilot Program
“I’m excited to announce this groundbreaking initiativefor U.S. digital asset markets,” said Acting Chairman Caroline D. Pham.
The initiative stems from a proposal made by Acting ChairmanCaroline D. Pham, who has suggested that the pilot program function as aregulatory sandbox for US markets.
The goal of the program is to offer regulatory clarity forthe rapidly evolving digital asset markets while ensuring the establishment ofappropriate safeguards and regulatory frameworks. The CFTC has a long historyof successfully utilizing pilot programs, dating back to the 1990s, to test andrefine regulatory approaches.
“The CFTC is committed to responsible innovation. Ilook forward to engaging with market participants to deliver on the TrumpAdministration’s promise of ensuring that America leads the way on economicopportunity,” Pham added.
CFTC Announces Crypto CEO Forum to Initiate Digital Asset Markets Pilot Program**Participants will include Circle, Coinbase, https://t.co/fXz0QTTQjk, and @Ripple. ✅✅🏁https://t.co/okEiGgxpVJpic.twitter.com/QnzykrJlpI
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) February 7, 2025
Committee Recommends Expanding Non-Cash Collateral
In addition to the pilot program, the CFTC’s Global MarketsAdvisory Committee, which Pham sponsors, released a recommendation last year.The advice came from the Digital Asset Markets Subcommittee, which emphasizedthe potential to expand the use of non-cash collateral.
The subcommittee specifically highlighted the use ofdistributed ledger technology as a means to facilitate this expansion. Therecommendation reflects its efforts to integrate digital asset innovations intobroader market practices while maintaining regulatory oversight.
This article was written by Tareq Sikder at www.financemagnates.com.
