US CFTC Acting Chairman is launching a pilot program tokenization backed by stablecoins
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Golden Finance reported that Caroline Pham, acting chairman of the U.S. Commodity Futures Trading Commission, is launching a stablecoin-backed tokenization pilot program and plans to hold a digital asset CEO forum. The upcoming summit will include Coinbase, Ripple, Circle, Crypto .com and other digital asset companies.
Pham had proposed the idea of building a so-called tokenized regulatory sandbox through its advisory committee, the Global Markets Advisory Committee, but the agency's former leadership did not adopt it.
The agency said the idea is based on what Caroline Pham calls “responsible innovation” and will drive the use of non-cash collateral “through distributed ledger technology.” Date and further details of the Digital Asset CEO Forum have not been determined.