CFTC Engages Crypto CEOs for Digital Asset Pilot Program

The Commodity Futures Trading Commission (CFTC) has recently announced a forum for crypto industry CEOs to provide input on an upcoming digital asset pilot program. The pilot program aims to explore "tokenized non-cash collateral," which includes stablecoins and similar products. The forum will be attended by CEOs from prominent crypto companies such as Circle, Coinbase, Crypto.com, and Ripple.

Acting CFTC Chairman Caroline Pham emphasized the importance of continued engagement with the crypto industry, stating that it would help fulfill the Trump administration's pro-crypto promises. The pilot program, along with recent changes at the CFTC and collaboration with industry executives, reflects a regulatory shift under the new administration.

The CFTC has undergone significant leadership changes since Pham's appointment as acting chairman in January 2025. She announced sweeping changes, including new directors for the regulator's market oversight and enforcement divisions. In addition, the CFTC has planned a series of roundtables with crypto industry leaders and market participants to gather public input on digital asset market structure.

Acting Chairman Pham has stated that the CFTC will focus on "regulation by enforcement," prioritizing fraud and consumer protection. As part of this regulatory pivot, the agency has simplified its enforcement task forces into two main groups, targeting retail fraud and complex fraud across asset classes.