The US Commodity Futures Trading Commission begins an initiative to allow Stablecoins as tokenized collateral to meet margin needs in the wide market of derivatives, inviting the input from the industry how to bring such policy online.
In the latest move towards the integration of crypto into the US financial sector, the acting leader of the CFTC, Caroline Pham, continues to advance the policy in the absence of President Donald Trump’s current nominee to become chairman, former commissioner Brian Quintenz. While the confirmation process for Quintenz remains mired on delays and some open conflicts, Pham regularly expresses initiatives as part of a “crypto sprint” and works with the Securities and Exchange Commission Chairman Paul Atkins.
“For many years I said collateral management was the ‘Killer App’ for Stablecoins in the markets,” Pham said in a statement on Tuesday. “I am pleased to announce the launch of this initiative to work closely with stakeholders to enable the use of tokenized collateral including Stablecoins.”
Pham has been pushing since last year for a so -called regulation sandbox for tokenization, when he announced the pursuit of a pilot program in tokenization supported by stablecoin.
Stablecoins, newly regulated Under the guidance and establishment of national innovation for the US Stablecoins Act (Genius) Act, dollar -based tokens are the key to plumbing crypto and digital digital financial markets. At a release of the agency’s press that also circulated comments from Circle, Coinbase and Ripple Executives, the CFTC said it was Get written ideas Until October 20.
The recent report of the president’s working group in the Crypto policy called on the CFTC to “provide guidance on the adoption of the tokenized non-cash collateral as a regulation margin.”
According to Pham, “Improvements in this market will release the U.S. economic growth as market participants can put their dollars to work more intelligently and go further.”
