The U.S. Commodity Futures Trading Commission (CFTC) has launched a pilot program for digital assets, allowing Bitcoin (BTC), Ethereum (ETH), and USDC to be used as collateral in the derivatives market. Acting Chair Caroline Pham announced that the program provides clear rules for futures commission merchants, covering custody, reporting, and risk management. In the initial phase of the pilot, institutions will disclose their positions weekly to ensure the safety of customer assets. The CFTC also issued guidance allowing futures commission members to hold specific digital assets as margin and revoked outdated restrictions. This initiative aims to promote the application of tokenized assets, including real-world assets such as government bonds. Industry feedback has been positive, viewing this as an important step to unlock innovation. The pilot emphasizes technological neutrality, focusing on enforceability and valuation standards. Overall, this move enhances the practicality of digital assets in the derivatives market and supports ecosystem development. What do you think of this advancement?
