The Commodity Futures Trading Commission (CFTC) has appointed new members to its Consultative Committee on the Global Markets (GMAC) and to sub-comices, adding several leaders in the cryptographic industry to the subcommittee of digital asset markets (DAMS)-A decision that highlights the continuous commitment of the regulator with the sector.
CFFTC Caragne Caragne Caroline D. Pham appointed Four new members of the dams: Katherine Minarik, legal director of the Uniswap Labs; Avery Ching, co-founder and chief of Aptos Labs technology; James J. Hill, Managing Director and head of structure innovation at BNY; And Ben Sherwin, Advocate General of Chainlink Labs.
In addition, Scott Lucas, chief of JPMorgan digital active ingredients, was appointed co-president of dams alongside Sandy Kaul, executive vice-president of Franklin Templeton. They succeed Caroline Butler, who was previously co -president.
“We are impatient to work with the commission and wider industry partners to help shape clear and effective regulatory frameworks in a well -structured digital asset market,” Lucas said in a press release.
Kaul has added that it aims to continue to advance the innovation of digital assets in the dominant current “with prudent and well -designed consumers, allowing greater efficiency and opportunities for all investors”.
Created to provide the CFTC expert advice on cryptocurrency, blockchain and token markets, dams advise the agency on risks and opportunities, develops political recommendations and works to fill traditional and decentralized finance.
Pham was active in the acting president of the CFTC on the day of the day of the inauguration of President Donald Trump in January, after being a commissioner since April 2022. His current mandate of the commissioner takes place until April 2027, allowing him to stay in the role until a permanent president is appointed.
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The latest nominations highlight the growing bridge between traditional and decentralized finances, highlighting a strong commitment from large Wall Street companies that see opportunities in real token, stablescoins and settlement infrastructure.
BNY Mellon has aggressively pivoted in monetary market funds in Tokenized thanks to a partnership with Goldman Sachs, allowing BNY customers to access the products of the money market with the property recorded on the Goldman private blockchain.
JPMorgan is also one of the companies of Wall Street exploring stablescoins and loans supported by Crypto. According to a July report in the Financial Times, some initiates said that the past remarks of CEO Jamie Dimon on Bitcoin (BTC) and the blockchain had set out relationships with certain customers.
The adoption is advancing in the context of favorable regulations, President Trump signing the law on law engineering and the House of Representatives passing both the bills on market structure and anti-CBDC, which are now moving to the Senate for examination.
At the same time, the CFTC aligns the Pro-Crypto agenda of the White House. The acting president PHAM launched a “Sprint Crypto” to implement the president’s recommendations of the president’s working group on the digital asset markets. A central objective is to clarify how the competence on digital assets will be divided between the CFTC and the Securities and Exchange Commission (SEC).
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