The Commodities Futures Trading Commission (CFTC) are sitting with stablecoin project leaders in a bit to learn more about them.
JPM Coin, MarkerDao and Paxo are among the firms in attendance, explaining different aspects of stablecoins during the meeting.
Brian Quintenz who is the CFTC commissioner said
In the furtherance of providing such correlated value, stablecoins have the potential, through tokenization, to function as viable, liquid mediums of exchange and serve as powerful enablers of smart contracts
There was some scepticism at the meeting with Tomasso Mancini-Griffoli, Deputy Division Chief in the Monetary and Capital Markets Department of the IMF expressed concerns surrounding financial stability, monetary policy control, privacy, competition, efficiency, consumer protection and financial integrity.
Let’s see if the CFTC have a better view of stablecoins than the US senate. When the senate questioned Libra’s Zuckerberg its was clear that Maxine Waters and Co. didn’t think they were a good idea.