2023-01-22 09:00:00

CFTC’s Global Markets Advisory Committee Welcomes Stellar as One of Four Crypto Organizations

According to a chief operating officer of Stellar, the foundation will present the committee with a distinct viewpoint of Layer 1 and showcase use cases for stablecoins.

 

The Stellar Development Foundation has joined the Global Markets Advisory Committee of the United States Commodity Futures Trading Commission, the blockchain stated on its blog. The committee is getting ready to assemble for the first time in over a year on February 13.

 

Stellar, a blockchain that facilitates transactions between cryptocurrencies and fiat currencies, has the support of the SDF. Jason Chlipala, who serves as chief operations officer for the foundation, will be the organization’s representative on the committee.

 

The new sponsor of the GMAC is CFTC commissioner Caroline Pham. The first meeting she will host will focus on setting up the meeting. There will also be a discussion of “potential global market structure and digital asset market topics for the GMAC to prioritize in making policy recommendations to the CFTC.”

 

Pham claimed that after being nominated to the CFTC by American President in January 2022, she had attended over 75 meetings with various parties to discuss international crypto regulatory standards.

 

He suggested in September that the CFTC establish an Office of the Retail Advocate that would be modeled after the Office of the Investor Advocate of the Securities and Exchange Commission.

 

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