The crypto world company Stellar, famous for its humanitarian vocation, joins the GMAC.
Stellar (€0.087 +3.53% today) has been on a roll since the beginning of the year, the company in these early days of 2023 has already recovered 23%.
The market exploit is not the only success of the cryptocurrency, it is also making inroads from the reputation point of view.
The company recently took part in the CFTC’s Global Market Advisory Committee.
Chief Operating Officer of Stellar Jason Chlipala said the input the company will bring to the committee will be to go in the Layer 1 direction by bringing Stablecoin case studies as an example.
The blockchain company lets it be known that Stellar’s foundation, the Stellar Development Foundation (SDF) now part of the US Commodity Futures Trading Commission’s (CFTC) Global Markets Advisory Committee (GMAC), will be able to meet in joint session next month on the 13th for the first time.
The Stellar blockchain serves as an exchange solution for transactions between crypto and the most transacted fiat currencies.
Chief Operating Officer Jason Chlipala, who is leading the voice of the Stellar Development Foundation, spoke on the company’s blog about the mission of the company.
According to the Foundation’s COO, the intent is to shed light on the unique perspective of Layer 1s at GMAC.
In this regard, Jason Chlipala stated the following:
“As part of the Committee, the SDF will highlight the role of stablecoins in digital asset markets and real-world use cases, including the exploitation of stablecoins in the delivery of humanitarian aid.”
Stellar (XLM) is also very sensitive to social issues, which is why it created the SAA program.
SAA or rather Stellar Aid Assist is a program aimed at bringing economic resources to the most vulnerable people on the planet.
The Stellar Foundation is now part of an international committee at whose table many companies from classical finance and beyond also sit.
Among the member companies together with Stellar on the Global Market Advisory Committee are CoinFund, Uniswap Labs, the Digital Chamber of Commerce, HSBC, Goldman Sachs, and BlackRock.
In total, there are 36 members of the body including newcomer Stellar.
Commodity Futures Trading Commission Commissioner Caroline Pham fully supports the GMAC’s work.
The first meeting of the Pham era to be held on 13 February will have as its theme the organization of the body after which it will move on to operational steering meetings.
In addition to internal organization, there will also be discussion of the health of the market, with a focus on future policy moves to defend the GMAC’s interest regarding the CFTC.
“I am thrilled to represent @StellarOrg on the @CFTCpham Global Markets Advisory Board and help ensure that the conversation includes a blockchain perspective.”
In an interview a week ago, Caroline Pham spoke about her commitment to the cause.
Pham has met more than 75 times with the parties in order to find common ground on comprehensive regulation on the crypto world.
Since she was appointed by US President Joe Biden more than a year ago, Caroline Pham has been holding tight meetings on mass adoption of the crypto world and making life easier in finance.
Four months ago, she proposed to establish an internal CFTC office to defend consumers, a sort of Banking Ombudsman of the US Security and Exchange Commission (SEC).