US EditionBTC, ETH, USDC as Collateral in CFTC Crypto Pilot
The CFTC pilot permits bitcoin, ether, and USD Coin as derivatives collateral with weekly disclosures required for the first three months, enhancing market transparency and risk management.
- On Monday, the Commodity Futures Trading Commission launched a pilot allowing bitcoin , ether , and USD Coin as collateral in U.S. derivatives markets.
- Earlier this year, the Commodity Futures Trading Commission withdrew 2020 guidance and federal legislation under the GENIUS Act updated rules to allow stablecoins and tokenized assets as collateral.
- Eligible futures commission merchants and registered firms may accept BTC, ETH and USDC as margin, provided they meet strict reporting, custody rules, and weekly disclosures for the first three months.
- Coinbase Chief Legal Officer Paul Grewal praised the Commodity Futures Trading Commission's pilot, with the agency emphasizing operational and custody risks for tokenized Treasuries.
- This change positions tokenized collateral to alter margin and custody arrangements, with enhanced CFTC monitoring and reporting increasing near-term compliance burdens for market participants.
41 Articles
41 Articles
CFTC Deepens Crypto Push With Approval of Derivatives Collateral
The Commodity Futures Trading Commission will allow Bitcoin, Ether, and the dollar-pegged stablecoin USDC to be used as collateral for derivatives trades, a decision that pushes crypto deeper into the plumbing of US finance.
Implications of the U.S. Commodity Futures Trading Commission (CFTC)’s Digital Assets Pilot Program
The U.S. Commodity Futures Trading Commission (CFTC), under Acting Chair Caroline Pham, launched a Digital Assets Pilot Program. This initiative allows registered Futures Commission Merchants (FCMs) to accept Ethereum (ETH), along with Bitcoin (BTC) and USD Coin (USDC), as margin collateral in regulated derivatives markets such as futures and swaps. This is not a broad […] The post Implications of the U.S. Commodity Futures Trading Commission (C…
Tokenized Finance Steps Into The Spotlight With CFTC’s New Pilot Program
The CFTC has announced the launch of a new pilot program that will focus on the use of tokenized digital assets in the US derivatives market. The Commission will also erase all outdated rules that do not concur with recent legislation captured in the GENIUS Act. The US Commodity Futures Trading Commission’s Acting Chair Caroline D. Pham has announced the launch of a digital asset pilot program that could usher in the full operation of tokenized …
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