Rep. French Hill’s name may or may not end up on any of the final legislation that will become crypto legislation in the US, but he was the one who pushed it forward.
By Jesse Hamilton|Edited by Cheyenne Ligon
Updated 8 December 2025, at 15.47 Released 8 December 2025, at 3 p.m
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CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral
Acting Chair Caroline Pham has unveiled a first-of-its-kind US program allowing tokenized security in derivatives markets, citing “clear protections” for companies.
What to know:
- The CFTC has launched a pilot program that allows BTC, ETH and USDC to be used as collateral in US derivatives markets.
- The program targets licensed futures commission traders and includes strict custody, reporting and oversight requirements.
- The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions under the GENIUS Act.
