Stellar Joins CFTC’s Blockchain and Digital Assets Advisory Committee
According to reports, the Stellar Development Foundation will join a fresh advisory council for the U.S. Commodity Futures Trading Commission. In the reconstituted entity, the SDF will be accountable for blockchain and digital assets and will advise the CFTC on these matters.
Along with Stellar representatives, the Chamber of Digital Commerce, Uniswap Labs, and CoinFund executives will support the emerging digital economy. Stellar will, nevertheless, be solely responsible for the blockchain’s trajectory.
In addition to J.P. Morgan, Goldman Sachs, and BlackRock joining the Global Market Advisory Committee, Stellar is indicating optimism for productive collaboration with members of conventional financial markets. Stellar (XLM) wishes to give special attention to the problem of payment transfers and stablecoins due to its role as a decentralized international money transfer operator.
SDF intends to discuss stablecoins on the digital assets marketplace and their real-world uses, including humanitarian help, as a portion of their Stellar Aid Assist initiative.
Paradoxically, this occurrence seems to be practically the exact reverse of what is occurring between Ripple and the SEC. Stellar, together with conventional banking titans, supervises cryptocurrency policy underneath the CFTC umbrella, but Ripple persists in battling the SEC in court. We have two competing businesses, two competing authorities, and two circumstances that are diametrically opposite.