US CFTC launches digital asset pilot program allowing Bitcoin, Ethereum and USDC as derivatives collateral

US CFTC Acting Chair Caroline Pham introduced a digital asset pilot program allowing specific cryptocurrencies as collateral in derivatives markets, The Block reported on December 9. The initial phase limits eligible collateral to Bitcoin, Ethereum (ETH) and USDC for use in derivatives transactions. The announcement builds on a CFTC initiative launched in September that sought to expand the use of tokenized collateral, particularly stablecoins, in derivatives markets.