CFTC’s opinion on the regulation of the digital assets market


Following the relaunch of the Global Market Advisory Committee, it turns out that the Commodity Futures Trading Commission (CFTC) has decided to pool all its knowledge and experience gained over the years and come to the table for discussions related to the ways adequate to bring about the regulation in the field of digital assets market. Which seems to say a lot about the importance of blockchain and crypto, as far as the future of the US markets is concerned, can be gauged by how GMAC treats it as a top priority.

It will be the Stellar Development Foundation, which will be among the four crypto-oriented firms identified and also the only one to speak for a blockchain. It will tie in with other mainstream teams like JP Morgan, Goldman Sachs and others. Commissioner Pham will be in the top seat. However, the role of GMAC will remain in the general orientation of the Commission. All of the factors that will be discussed will be in relation to the health of the US markets, along with all of the US-based organizations that operate globally.

They are being brought before the Committee to explain the fact that there is an apparent connection between them and the US markets. It also supports his view that more and more diverse actors are needed to form a more effective consortium. Apart from this, it also creates an opportunity for the organization to get involved in all the relevant discussions and help them get the necessary answers.

Being the only blockchain that the Committee refers to, there will be an opportunity to introduce Layer 1 protocols and all connected applications in terms of this technology. In turn, stablecoins turn out to be one of the most intrinsic applications considering the priority given to settlements. SDF will then focus on stablecoins connected to the digital asset market, along with real-time use cases.

In the opinion of SDF, blockchain, along with traditional finance, must come together and make sure that the operation is interoperable and seamless. It will also open the doors to mainstream and blockchain finance to collect all the necessary responses related to the overall comfort of the US markets.

However, the vision wants traditional finance and blockchain to be able to work properly and together. It will help blockchain and mainstream finance to find some suitable prospects in the near future.

Right now, it’s supposedly imperative that SDF engage in more ways with government agencies, all to improve the blockchain industry as a whole, along with yours. Similarly, the other critical aspect is the engagement of the SDF with government agencies. It is an effort to push the industry towards mainstream adoption.

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