The acting president of Commodity Futures Trading Commission (CFTC), Caroline Pham, announced on September 23 that the agency Will launch an initiative To allow a tokenized guarantee on the derivative markets, including stabbed.
The announcement is based on the CSFC CEO CTG forum in February 2025 of the CFTC and is part of the agency Crypto Sprint sprint, implementing the recommendations of the working group of President Donald Trump on the report on the digital asset markets.
Pham described the initiative as an advance “the golden age of the American crypto” thanks to the modernization of blockchain technology in collateral management systems.
The CFTC aims to improve the efficiency of capital by allowing market players to deploy assets more effectively in derivative trade.
Pham said:
“The public spoke: the tokenized markets are there, and they are the future.” For years, I said that collateral management is “the Killer application” of stablecoins on the markets. Today, we are finally going forward on the work of the advisory committee on the global markets of the CFTC from last year. »»
The CFTC invited the stakeholders’s comments, with public comments due on October 20.
Industry support
Large cryptography companies have approved the initiative through declarations supporting the integration of Stablecoin derivatives.
The president of Circle, Heath Tarbert, noted that the law on engineering creates a regulatory framework which allows the payment statements of approved American companies to serve as a guarantee in traditional derivatives and markets.
The vice-president of Coinbase Institutional Products, Greg TUSAR, characterized stablescoins as “the future of money” and token guarantees as the start of a broader market transformation.
Crypto.com co-founder Kriszalek, said the CRP CEOs discussions on the delivery of innovations that remained outside of American markets under previous regulatory approaches.
Ripple SVP Jack McDonald highlighted the importance of establishing clear rules for the evaluation, custody and regulations to provide institutional certainty while maintaining the appropriate railing on reserves and governance.
Non -monetary warranty
The initiative implements the recommendations of the digital asset asset market subcommittee of the CFTC World Markets Committee on the expansion of the use of non-monetary guarantees via the technology of the large distributed book.
The President’s working group report orders the CFTC to guide the adoption of non -monetary tokenized guarantees as regulatory margin.
Pham had previously offered a CFTC pilot program used as a regulatory sandbox to give clarity to the digital asset markets while guaranteeing robust railings. The agency has operated successful pilot programs since the 1990s.
