Enhancing Advisory Capacity at the CFTC
In a significant move to enhance its advisory capacity, Caroline D. Pham, the Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), has unveiled the latest roster of the Global Markets Advisory Committee (GMAC) and its specialized subcommittees. Among the new inductees is Avery Ching, the Co-Founder and CEO of Aptos Labs, who will now serve on the Digital Asset Market Subcommittee.
The Role of GMAC
The GMAC holds a pivotal role as an advisory entity to the CFTC, bringing together a diverse group of professionals from both mainstream finance and the burgeoning digital asset landscape. This committee has been instrumental in informing CFTC policy direction, which influences not only regulatory standards within the United States but also serves as a reference in global discussions concerning market frameworks and the regulation of digital assets.
Collaboration with Industry Leaders
In her announcement, Pham expressed enthusiasm about working alongside industry trailblazers like Ching, Scott Lucas, the Head of Digital Asset Markets at JPMorgan, and Sandy Kaul, who serves as Executive Vice President at Franklin Templeton. Their collaboration aims to ensure the seamless advancement of the digital asset market amidst evolving technological landscapes.
Avery Ching’s Experience
Avery Ching brings a wealth of experience to the committee, having previously spearheaded blockchain initiatives, including the wallet infrastructure and technical implementations for Meta’s Diem project, prior to establishing Aptos Labs. His inclusion in GMAC underscores the increasing prominence of Web3 innovators in shaping the dialogue around global regulatory approaches.
