Stablecoins Pilot: US Regulator Innovates

CFTC Acting Chair Pham Pursues Stablecoin-Backed Tokenization Pilot

• Caroline Pham is serving as the acting chair of the U.S. Commodity Futures Trading Commission (CFTC).
• Pham is initiating a stablecoin-backed tokenization pilot program.
• The initiative involves using distributed ledger technology for non-cash collateral.
• An upcoming summit will feature leaders from Coinbase, Ripple, Circle, and Crypto.com.
• The Global Markets Advisory Committee proposed a regulatory sandbox for tokenization in November.

Acting CFTC Chair Caroline Pham is spearheading a pilot program to explore stablecoin-backed tokenization using distributed ledger technology. The initiative follows a recommendation by the Global Markets Advisory Committee and aims to engage major digital asset firms in an upcoming summit.