According to the official Twitter account of Stellar Lumens, behind the blockchain network and altcoin XLM, the Stellar Development Foundation (SDF) will join the global market advisory committee of the US Commodity Futures Trading Commission (CFTC). Here are the details…
Altcoin project joins CFTC advisory committee
The Stellar Development Foundation will reportedly become a member of a new advisory board set up by the United States Commodity Futures Trading Commission. The CFTC will receive guidance on blockchain technology and crypto assets from the SDF, and the foundation will assume a leadership role on the new committee. With JP Morgan, Goldman Sachs and BlackRock joining the Global Market Advisory Committee, Stellar is signaling confidence for fruitful collaboration with the leaders of traditional financial markets.
Stellar (XLM), a decentralized provider of international money transfers, has expressed its desire to place great emphasis on remittances and stablecoins. Currently, the Stellar Development Foundation (SDF) plans to talk about stablecoins and their real-world use, and projects such as providing assistance to those in need as part of their effort called Stellar Aid Assist. The foundation will be represented on the committee by the foundation’s COO, Jason Chlipala. “We hope to bring the unique perspective of Layer-1 protocols to the committee,” the company wrote on its blog. In addition, the following expressions were used:
As part of the committee, SDF will highlight the role of stablecoins in crypto-asset markets and real-world use cases, including leveraging stablecoins in the delivery of humanitarian aid.
CFTC held more than 75 meetings on cryptocurrencies
CFTC commissioner Caroline Pham has become GMAC’s new sponsor. The first meeting, sponsored by Pham, will be devoted to organizational matters. “Potential issues regarding global market structure and crypto-asset markets for GMAC to prioritize when making policy recommendations to the CFTC” will also be discussed. In an interview on Jan. 17, Pham stated that he has held over 75 meetings on global crypto regulatory standards with various parties since being nominated to the CFTC by US President Joe Biden in January 2022.
Stellar forges ties with the CFTC, while Ripple battles the SEC
Ironically, the scenario between Ripple and the US Securities and Exchange Commission (SEC) seems to be almost the opposite of what happened with Stellar. Ripple is now continuing its legal battle with the SEC. Despite the fact that Stellar and key players in traditional banking control cryptocurrency regulation under the auspices of the CFTC, Ripple’s war with the SEC is plaguing investors in the cryptocurrency market. cryptocoin.com As we have also reported, there are those who are waiting for the litigation between Ripple and the SEC to be concluded this year. Also recently, expectations have risen that the case will be settled in favor of Ripple. Time will tell what will happen.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.