Stellar Joins CFTC’s Global Markets Advisory Committee as One Of Four Crypto Organizations

Stellar Chief Operating officer Jason Chlipala said the foundation would bring the unique perspective of Layer 1 to the committee and Feature Stablecoin use cases.

The Stellar Development Foundation (SDF) has become the newest member of the US Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC), the blockchain reported on its blog. The committee is planning to meet on Feb. 13 for the initial time in more than a year.

It is possible to use the Stellar blockchain for transfers.The foundation will be addressed on the committee by chief operating officer Jason Chlipala. He wrote in the company blog that “we desire to bring the unique perspective of Layer 1 protocols” to the GMAC and:

“As part of the Committee, SDF will highlight the role of Stablecoins in the digital asset markets and certifiable use cases, including leveraging Stablecoins in the conveyance of helpful guide.”

Aid organizations can deliver Cash assistance to vulnerable populations with the help of the Stellar Aid Assist program.It is a member of the Chamber of Digital Commerce.

Traditional finance giants including HSBC, Goldman Sachs and BlackRock are also addressed on the 36-member committee.The GMAC has a new sponsor.The primary gathering under her sponsorship will be committed to organizational issues.

“Potential topics relating to global market structure and digital asset markets for the GMAC to focus on in making strategy recommendations to the CFTC” will also be talked about.”

Pham stated in a meeting Jan. 17 that she has held over 75 meetings with different parties on global crypto regulatory standards since she was nominated to the CFTC by U.S. President Joe Biden in January 2022. In September, she proposed the creation of a CFTC Office of the Retail Advocate demonstrated after the Security and Exchange Commission’s Office of the Investor Advocate.