U.S. Regulator Pursuing Tokenization Pilot to Tap Stablecoins as Collateral

Caroline Pham, the acting head of the U.S. Commodity Futures Trading Commission (CFTC), is initiating a stablecoin-backed tokenization pilot program aimed at innovative use of digital assets. Pham's recent announcement highlights plans for a summit with leaders from major cryptocurrency firms to discuss this initiative. The pilot program, inspired by her earlier proposal for a regulatory sandbox, seeks to enhance the use of non-cash collateral through blockchain technology. Pham's swift changes in leadership at the CFTC signal a shift in regulatory approach towards digital assets, promoting a vision of "responsible innovation" in the marketplace. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk