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The U.S. Commodity Futures Trading Commission (CFTC) is weighing a proposal that would permit tokenized assets, including stablecoins, to be utilized as collateral in derivatives markets.
If sanctioned, stablecoins such as $USDC and $USDT would be regarded as conventional collateral, similar to cash or U.S. Treasuries in regulated derivatives markets.
This is outstanding news for Best Wallet. As stablecoins gain credibility and value, the wallet’s safe, user-friendly interface makes it the ideal location to store and transact with leading assets – alongside other digital currencies.
The CFTC to ‘Pave the Way for America’s Golden Age of Crypto’
Yesterday, interim CFTC chair Caroline Pham declared that the endeavor builds upon the CFTC’s effective Crypto CEO Forum held in February. Additionally, it is part of its larger ‘crypto sprint‘ to enact recommendations from the President’s Working Group on Digital Assets.
‘Since January, the CFTC has taken decisive steps to pave the way for America’s Golden Age of Crypto,’ stated Acting Chairman Pham.
‘At our landmark Crypto CEO Forum, we explored how innovation and blockchain technology will advance progress in derivatives markets, particularly regarding the modernization of collateral management and heightened capital efficiency. These market enhancements will unleash U.S. economic expansion as market participants can deploy their funds in smarter ways that yield greater results.’
Augmenting this initiative, the new strategy also corresponds with the GENIUS Act, a modern framework for licensed payment stablecoins to be utilized across traditional finance markets.
The agency is also urging stakeholders to provide feedback on tokenized collateral in derivatives markets until October 20.
By offering a secure, non-custodial wallet, Best Wallet simplifies your access to the increasing legitimacy of stablecoins, and thus crypto as a whole.
Safely Manage Major Stablecoins & Cryptos on Best Wallet
Best Wallet enhances how you engage with digital funds, whether stablecoins like $USDT and $USDC, top cryptos such as $BTC or $ETH, or even the leading meme coins, $DOGE and $SHIB.
The mobile wallet (accessible on Google Play and iOS) supports over 1K assets, soon across 60 networks, making it a preferred hub for managing your cryptos in one location.
As a non-custodial wallet, it’s an exceptionally secure choice; it provides you complete control over your private keys, along with additional protective features such as 2FA, biometrics, and in-app scam prevention filters.
Additionally, its innovative features further enhance the overall Best Wallet experience. Its integrated launchpad, for example, allows you to discover top crypto presales directly within the app. By eliminating the need to connect to external sites, it minimizes your exposure to risks.
Another noteworthy aspect is its smooth cross-chain swaps. It interfaces with over 330 DEXs and 30 bridges, enabling you to effortlessly exchange leading cryptos for the best market rates.
And that’s just the beginning. Best Wallet has numerous forthcoming developments in the works, including a crypto debit card (Best Card), NFT gallery, limit orders, and market intelligence analytics (among others!).
The project’s native token, $BEST, will help elevate Best Wallet’s applications to new heights. It reserves a quarter of its total token supply for product advancement.
Indeed, $BEST plays a crucial role within the entire ecosystem. It unlocks essential advantages for holders, including lowered fees, high-yield staking rewards (currently at 82% APY), governance rights, and early access to presales.
To help propel Best Wallet to even brighter prospects and seize the advantages, you can acquire $BEST on presale for just $0.025685. And you certainly wouldn’t be the only one – it has already collected over $16M, after all.
With under ten hours remaining until its next price rise, there’s no better moment to participate. This is especially true considering that our Best Wallet price forecast anticipates $BEST reaching $0.072 this year, following exchange listings.
Participate in the $BEST presale today.
We’re not financial advisors. Always conduct your own research and never invest more than what you can afford to lose.
Authored by Leah Waters, Bitcoinist — https://bitcoinist.com/cftc-add-stablecoins-as-collateral-benefits-best
Editorial Process for bitcoinist is focused on delivering thoroughly researched, precise, and impartial content. We adhere to strict sourcing standards, and each page undergoes careful review by our team of leading technology specialists and experienced editors. This procedure guarantees the integrity, relevance, and value of our content for our audience.
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