CFTC unveils digital asset markets pilot program with industry giants, including Ripple and Coinbase

Aiming for innovation and economic leadership, the CFTC plans a forum with crypto giants to shape digital markets.

Key Takeaways

• The CFTC announces a pilot program focused on tokenized non-cash collateral with firms like Ripple and Coinbase.
• This initiative aims to provide clarity for US digital asset markets and fosters responsible innovation.

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The Commodity Futures Trading Commission (CFTC) said Friday it is launching a pilot program to explore the use of stablecoins and other digital assets as collateral in financial markets. The agency plans to convene a CEO Forum with leading crypto firms to discuss the launch, including Ripple Labs, Circle, Coinbase, and Crypto.com.

“I’m excited to announce this groundbreaking initiative for the US digital asset markets,” said Acting Chairman Caroline Pham. “The CFTC is committed to responsible innovation. I look forward to engaging with market participants to deliver on the Trump Administration’s promise of ensuring that America leads the way on economic opportunity.”

The initiative builds on Pham’s earlier proposal for a CFTC pilot program designed to serve as a US regulatory sandbox, aiming to provide clarity for digital asset markets while maintaining protective measures.

The agency has successfully implemented pilot programs since the 1990s. Its Global Markets Advisory Committee, under Pham’s sponsorship, previously issued a recommendation through its Digital Asset Markets Subcommittee to expand the use of non-cash collateral via distributed ledger technology.

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