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The Commodity Futures Trading Commission (CFTC) is making major moves to influence the future of digital assets.
It has announced the latest appointments to its Global Markets Advisory Committee (GMAC) and its subcommittees, tapping leaders from leading financial firms to help shape the future of crypto and digital asset markets.
Wall Street Leaders Take Key Roles
Scott Lucas, Managing Director and Head of Markets Digital Assets at J.P. Morgan, has been appointed co-chair of the GMAC’s Digital Asset Markets Subcommittee. He will serve alongside Sandy Kaul, Executive Vice President at Franklin Templeton. They replace Caroline Butler, who previously held the position of co-chair.
Acting Chairman Caroline D. Pham highlighted the role of the GMAC, noting that its expertise has directly influenced the CFTC’s policy decisions. She said it also adds valuable perspective to global conversations on evolving market trends and how digital assets are regulated.
Scott Lucas, expressed enthusiasm for the work ahead, saying, “We look forward to working with the Commission and broader industry partners to help shape clear and effective regulatory frameworks in a well-structured digital asset market.”
New Subcommittee Members Appointed
The CFTC also expanded its Digital Asset Markets Subcommittee bringing in new members from leading crypto and financial firms. Katherine Minarik of Uniswap Labs, Avery Ching of Aptos Labs, James J. Hill of BNY, and Ben Sherwin of Chainlink Labs join the team.
These additions are expected to bring diverse expertise to the subcommittee as the CFTC continues shaping crypto market regulations in the United States.
Expanding the Crypto Market Access
This comes as the CFTC continues to advance initiatives in the digital asset space.
Earlier this month, the SEC and CFTC confirmed that registered exchanges like the NYSE, Nasdaq, CBOE, and CME can now support trading of certain spot crypto assets.
The CFTC recently launched its latest “Crypto Sprint,” aimed at implementing recommendations from the President’s Working Group on Digital Asset Markets. The program is open for public comment until October 20, 2025, allowing industry participants, investors, and everyday users to share their views on the future of U.S. crypto regulations.
In August, it also launched a new initiative to allow crypto asset contracts to trade through its regulated exchanges.
White House Considers New CFTC Leadership
Meanwhile, the White House is exploring other candidates for CFTC chair as Brian Quintenz’s confirmation remains stalled. The Trump administration has been considering officials with expertise in crypto regulation.
This suggests continued support for a structured and well-regulated digital asset market in the United States.
