Caroline D. Pham Unveils CFTC Initiative for Stablecoins in U.S. Derivatives Markets

Caroline D. Pham, the acting Commissioner of the U.S. Commodity Futures Trading Commission (CFTC), has announced a groundbreaking initiative to use stablecoins as tokenized collateral in the U.S. derivatives markets for the first time. This significant development was shared by cryptocurrency reporter Eleanor Terrett.

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The roots of this initiative can be traced back to the Crypto CEO Forum that took place in February 2025. During this forum, leaders from prominent stablecoin companies brought this important topic to the forefront, building upon earlier recommendations from the Presidential Working Group that laid the groundwork for this movement.

Public Comment and Expert Perspectives on Stablecoins

Currently, the CFTC is inviting public comment on this new initiative. They are specifically looking for feedback on several important issues, including valuation, custody, reconciliation, and necessary rule changes. The deadline for submitting comments is October 20th.

Experts believe that allowing stablecoins to be used as collateral could represent a significant milestone, enhancing both market depth and the integration of crypto assets with the traditional financial system. There are also recent rumors suggesting that a cryptocurrency-friendly individual may soon be appointed to lead the CFTC.