The Commodity Futures Trading Commission (CFTC) has recently relaunched its Global Market Advisory Committee (GMAC) and has included digital asset markets in its priorities. The inclusion of these markets in GMAC's priorities demonstrates the importance of blockchain and cryptocurrencies for the future of US markets.
The Stellar Development Foundation (SDF) will be one of four cryptocurrency-focused organizations - and the only one representing a blockchain - joining representatives of traditional finance players like J.P. Morgan, Goldman Sachs and BlackRock.
One more step for the crypto world
With the inclusion in the Committee, SDF marks another important moment for blockchain. This further recognizes that the future of the US markets and our industry are connected. It also highlights the CFTC's commitment to building a diverse consortium that represents more than just traditional financial players.
Additionally, it presents an opportunity for the crypto industry to continue to engage in conversations that will guide future regulatory structures and clarity. Clear regulations and smart policies "can help liberate our industry," Stellar argues, and "we must be in the room with decision-makers and regulators to help achieve this," he details.
As the only blockchain represented on the Committee, SDF hopes to bring the unique perspective of Layer 1 protocols, that is, the vision of the underlying infrastructure, responsible for supporting and bringing to life so many promising applications of the technology. As part of the Committee, SDF will highlight the role of stablecoins in digital asset markets and real-world use cases.
Symbiosis between Stellar and the CFTC
The inclusion of the Stellar Development Foundation (SDF) in the Global Market Advisory Committee of the Commodity Futures Trading Commission (CFTC) presents several benefits for the organization. First, it allows SDF to participate in important conversations that will inform future regulatory structures and clarity in the digital asset market. Active participation in this committee can help unlock the potential of the sector and ensure that regulations are appropriate and fair.
Additionally, by being the only blockchain representative on the committee, SDF has the opportunity to bring a unique and valuable perspective on the technology and its role in financial markets. The organization can highlight the role of stablecoins in digital asset markets and real-world use cases, including the use of stablecoins in humanitarian aid delivery, through Stellar Aid Assist.
The collaboration with this committee, between blockchain and traditional finance, can help ensure the development of an adequate regulatory framework, which is a step in favor of the crypto world.