CFTC Launches Digital Asset Pilot with Ripple, Coinbase

The Commodity Futures Trading Commission (CFTC) has unveiled a pioneering pilot program focused on digital asset markets, with industry giants such as Ripple and Coinbase set to participate. The initiative, announced on Friday, aims to provide clarity for US digital asset markets and foster responsible innovation.

The CFTC plans to convene a CEO Forum with leading crypto firms to discuss the launch of the pilot program, which will focus on tokenized non-cash collateral, including stablecoins. Circle, Coinbase, Crypto.com, and Ripple have been confirmed to participate in the forum, with additional details to be released once finalized.

Acting Chairman Caroline Pham expressed her excitement about the groundbreaking initiative, stating, "The CFTC is committed to responsible innovation. I look forward to engaging with market participants to deliver on the Trump Administration’s promise of ensuring that America leads the way on economic opportunity."

The initiative builds on Pham's earlier proposal for a CFTC pilot program designed to serve as a US regulatory sandbox, aiming to provide clarity for digital asset markets while maintaining protective measures. The agency has successfully implemented pilot programs since the 1990s and has previously recommended expanding the use of non-cash collateral via distributed ledger technology through its Global Markets Advisory Committee.