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BTC 
ETH 代理主席卡罗琳·范(Caroline Pham)公布了一项美国首创的计划，允许在衍生品市场中使用代币化抵押品，并指出该计划为企业提供了“明确的保障措施”。
要点介绍：
● 美国商品期货交易委员会(CFTC)已启动一项试点计划，允许将BTC、ETH和USDC用作美国衍生品市场的抵押品。
● 该计划面向获批准的期货佣金商，并包含严格的托管、报告和监督要求。
● 该机构还发布了代币化资产的最新指南，并根据《GENIUS法案》撤销了过时的限制。
美国商品期货交易委员会(CFTC)周一启动了一项试点计划，允许部分数字资产包括比特币(BTC)在市场上交易。以太坊(ETH)和USD Coin(USDC)或其他支付稳定币——将用作美国衍生品市场的抵押品。
代理主席卡罗琳·范宣布的这项计划，是旨在为市场参与者提供使用代币化抵押品(包括美国国债等现实世界资产的代币化版本)的明确规则的更广泛举措的一部分。
“今天，我宣布在美国衍生品市场启动一项针对代币化抵押品(包括比特币和以太坊)的数字资产试点计划，该计划将建立明确的保障措施来保护客户资产，并提供更完善的CFTC监控和报告机制，”Pham在一份声明中表示。
Earlier this year, the U.S. Commodity Futures Trading Commission (CFTC) began allowing stablecoins to be used as collateral for certain products. Currently, this program is only applicable to futures brokers who meet specific criteria. These companies can accept Bitcoin, Ethereum, and other stablecoins such as USDC as collateral for futures and swap transactions, but they must comply with strict reporting and custody requirements. Over the first three months, they are required to report their holdings of digital assets weekly and report any issues to the CFTC. In practice, this means that a registered company can use Bitcoin as collateral for leveraged swaps linked to commodities, while the CFTC monitors the operational risks and custody arrangements behind the scenes. The agency also issued a letter stating that futures brokers can store certain digital assets in segregated client accounts, provided they manage risks carefully. It’s worth noting that the CFTC withdrew the outdated guidelines issued in 2020, which effectively prevented the use of cryptocurrencies as collateral in many cases. This guidance was considered outdated after the passage of the GENIUS Act, which updated the federal regulations regarding digital assets.
Industry executives expressed their appreciation for this measure. Paul Grevault, the chief legal officer of Coinbase, stated in a statement released by the U.S. Commodity Futures Trading Commission (CFTC): “This significant step towards openness is in line with the intentions behind the GENIUS Act, both at the federal and state levels.” The CFTC emphasizes that its rules remain technically neutral, but it notes that real-world tokenized assets such as government bonds must still meet certain standards regarding enforceability, custody, and valuation.
