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Stellar Joins CFTC’s Global Market Advisory Board As One Of Four Crypto Organizations

Delbert Williams IIBy No Comments2 Mins Read

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The Stellar Development Foundation (SDF) has become the newest member of the U.S. Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC), Blockchain announced on its blog. The committee is preparing to meet on February 13th for the first time in over a year.

SDF supports the Stellar blockchain, which is used for cryptocurrency and fiat currency transfers. The Foundation will have Chief Operating Officer Jason Kripala on the committee. “We hope to bring a unique perspective on Layer 1 protocols to his GMAC,” he wrote on his company blog.

“As a member of the committee, the SDF will focus on real-world use cases, including the role of stablecoins in digital asset markets and their use in providing humanitarian assistance.”

Stellar is the issuer of the Stellar (XLM) coin and creator of the Stellar Aid Assist program, which “enables aid organizations to provide cash assistance to vulnerable populations.” She is a crypto oriented she is a GMAC member she joins CoinFund, Uniswap Labs and Chamber of Digital Commerce. Traditional financial giants such as HSBC, Goldman Sachs and BlackRock also participate in the 36-member committee.

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CFTC Commissioner Caroline Pham is GMAC’s new sponsor. The first meeting under her auspices will be devoted to organizational issues. “Potential topics related to global market structure and digital asset markets that should be prioritized by GMAC in making policy recommendations to the CFTC” will also be discussed.

In an interview on Jan. 17, Pham said he has held more than 75 meetings with various stakeholders on global crypto regulatory standards since being nominated by US President Joe Biden to the CFTC in January 2022. . Modeled after the Security and Exchange Commission’s Office of the Investor Advocate, he is a Retail Advocate.