The Stellar Development Foundation (SDF), the non-profit organization behind the Stellar blockchain, has announced its joining of a new advisory committee of the United States Commodity Futures Trading Commission (CFTC).
The Global Markets Advisory Committee (GMAC) is one of the five active Advisory Committees overseen by the CFTC, and will have SDF as one of the four crypto-focused organizations on the committee, joining representatives from traditional finance players such as J.P.
Morgan, Goldman Sachs, and BlackRock. SDF plans to focus on Layer 1 protocols, remittances, and the role of stablecoins in the digital asset markets and real-world use cases as part of the committee.
The GMAC is tasked with guiding the CFTC on issues related to “the integrity and competitiveness” of US markets as well as domestic firms engaged in global business, and setting international standards for regulating futures, swaps, options, and derivatives markets.