Encrypted heavyweights join CFTC’s global consulting group – Details

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The U.S. Commodity Futures Trade Commission (CFTC) announced its new appointments to its Global Markets Advisory Committee and Digital Asset Markets Subcommittee on September 19, 2025. The move brings new faces to both cryptocurrency companies and Wall Street companies a role designed to advise the institution on digital assets.

Who are the new leaders and who are

Scott Lucas, managing director and head of market digital assets at JP Morgan and Sandy Kaul, executive vice president of Franklin Templeton, will serve as co-chair of the Digital Asset Markets Subcommittee.

In addition, the CFTC has named several industry figures as panels, including Katherine Minarik of Uniswap Labs, Avery Ching of Aptos Labs, James J. Hill of BNY Mellon and Ben Sherwin of Chainlink Labs. The appointment was announced by Acting Chairman Caroline D. Pham.

The list generally includes eight new members. Some come from traditional banks and asset managers. Others come from decentralized financial and infrastructure projects.

Congratulations @chainlinklabs General Counsel Ben Sherwin was appointed @cftcSubcommittee of the Digital Asset Markets Subcommittee of the Global Market Advisory Committee! 🇺🇸 @chainlink https://t.co/aqcrasmowb

– Caroline D. Pham (@CarolinedPham) September 19, 2025

Why is it important now

According to the report, dating arrives as the CFTC pushes to play a bigger role in the way crypto markets operate in the U.S.

The agency recently said it will explore allowing spot cryptocurrency trading on registered futures exchanges – a plan that could change the regulator’s plans to oversee certain crypto products. The initiative was described earlier this year in agency statements and industry coverage.

Acting Chairman Pham also set the advisory group a bridge between market practice and rule-making. She said the committee “provides valuable expertise” that can help the agency weigh market structures and regulatory handling of digital assets.

As of today, the market cap of cryptocurrencies stood at $3.98 trillion. Chart: TradingView

Balance of interest in the room

JPMorgan and Franklin Templeton together with Uniswap and Chainlink introduce the core tension. Marketing companies need clear rules to get them to operate here.

Consumer groups and some regulators want stronger safeguards. The Advisory Committee does not enact laws; they recommend. Nevertheless, their views can shape the rules written next.

Some coverage also points to the practical reasons for relying on the advisory body: There is still a leadership gap in the agency. Several specialist seats remain unfilled, which brings greater weight to employees and external consultants while still pending trial.

Dating marks another step toward a wider fold of cryptocurrencies more firmly into the U.S. market. Whether this leads to faster approval of new trading venues or stricter rules will depend on how regulators use the committee’s recommendations.

Featured Images of Jhvephotos | Dreamstime.com, TradingView Charts

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