The U.S. Commodity Futures Trading Commission (CFTC) has appointed new members to its Global Markets Advisory Committee (GMAC) and subcommittees, adding several leaders from the cryptocurrency industry to the Digital Asset Markets Subcommittee (DAMS) — a move that highlights the regulator's ongoing engagement with the sector.
CFTC Acting Chair Caroline D. Pham appointed four new DAMS members: Uniswap Labs Chief Legal Officer Katherine Minarik; Aptos Labs Co-founder and Chief Technology Officer Avery Ching; BNY Mellon Managing Director and Head of Structural Innovation James J. Hill; and Chainlink Labs General Counsel Ben Sherwin.
Additionally, JPMorgan's Head of Digital Assets Scott Lucas has been appointed as Co-Chair of DAMS, alongside Franklin Templeton Executive Vice President Sandy Kaul. They succeed Caroline Butler, who previously held the Co-Chair position.
"We look forward to working with the committee and broader industry partners to help develop a clear and effective regulatory framework in a well-structured digital asset market," Lucas stated in a release.
Kaul added that her goal is to continue advancing digital asset innovation into the mainstream, "bringing greater efficiency and opportunity for all investors through prudent and well-designed consumer protections."
DAMS aims to provide the CFTC with expert guidance on cryptocurrency, blockchain, and tokenized markets, advising the agency on risks and opportunities, formulating policy recommendations, and working to connect traditional finance with decentralized finance.
Pham was designated as CFTC Acting Chair on the day of President Trump's inauguration and has served as a commissioner since April 2022. Her current term as commissioner runs until April 2027, allowing her to continue in the role until a permanent chair is appointed.
The latest appointments underscore the growing bridge between traditional finance and decentralized finance, highlighting the strong involvement of major Wall Street firms that see opportunities in tokenizing real-world assets, stablecoins, and settlement infrastructure.
BNY Mellon is actively pivoting towards tokenized money market funds through a partnership with Goldman Sachs, enabling BNY clients to access money market products recorded on Goldman Sachs' private blockchain.
JPMorgan is also one of the Wall Street firms exploring stablecoins and crypto-backed loans. According to a Financial Times report in July, some insiders indicated that CEO Jamie Dimon's past comments on Bitcoin (BTC) and blockchain had strained relationships with certain clients.
In a favorable regulatory environment, adoption is advancing, with President Trump signing the GENIUS Act into law, and the House passing the Market Structure and Anti-Central Bank Digital Currency (CBDC) Act, which will now be submitted to the Senate for consideration.
Meanwhile, the CFTC is aligning with the White House's support for the crypto agenda. Acting Chair Pham has launched a "crypto sprint" to implement the recommendations of the President's Digital Asset Market Working Group. A core objective is to clarify how the CFTC and the U.S. Securities and Exchange Commission (SEC) divide jurisdiction over digital assets.
Related: Hong Kong's virtual asset accounting standards expected to be released in the first half of 2026, accelerating Web3 compliance.
Original article: “Crypto Leaders Join CFTC Digital Asset Subcommittee, JPMorgan Executive Appointed Co-Chair”
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