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Published on September 08, 2023 11:11 GMT+00:00edited on September 08, 2023 11:14 GMT+00:00

Caroline Pham, a Commissioner of the U.S. Commodity Futures Trading Commission (CFTC), proposed that the financial regulator launch a pilot regulatory sandbox scheme for digital assets in a speech delivered before the Cato Institute on Sept. 7.

In the speech, Commissioner Pham highlighted how the U.S. hands-off approach has placed it behind other countries as regards the development of clear regulations for the blockchain and digital asset industry.

The Commissioner noted that a regulatory sandbox program tailored for the emerging industry would help to support the development of compliant digital asset markets and tokenization. She continued that the program would have input from major stakeholders in the field who would “ensure the integrity of our markets and impartial access, foster …