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Stellar Becomes First Blockchain Representative in CFTC

The Stellar Development Foundation has joined a new advisory committee of the United States Commodity Futures Trading Commission (CFTC).

According to the firm’s announcement, SDF will become one of four crypto-focused organizations in the Global Markets Advisory Committee (GMAC), one of five active Advisory Committees overseen by the CFTC. The firm behind the Stellar blockchain will join representatives from traditional finance players such as JP Morgan, Goldman Sachs and BlackRock.

As SDF represents the blockchain industry at GMAC, the foundation expects to focus on Layer 1 protocols and remittances. The organization also plans to highlight the role of stablecoins in digital asset markets and real-world use cases as part of the committee.

In a statement, SDF said it was excited to join the many traditional finance players on the CFTC’s new committee. He also believes that GMAC will serve as an opportunity for traditional finance and blockchain to find hopes for integration to ensure the integrity and competitiveness of US markets. In addition to the SDF, officials from the Digital Chamber of Commerce, Uniswap Labs and CoinFund are some of the members.

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