Stellar is making waves in the cryptocurrency world

2 min

stella xlm crypto

The cryptocurrency world company Stellar, famous for its humanitarian vocation, joins the GMAC.

Stellar (€0.087 +3.53 percent 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 digital currency, it is likewise making inroads from the reputation point of view. 

The company recently took part in the CFTC’s Worldwide Market Advisory Committee

Chief Operating Officer of Stellar Jason Chlipala stated the input the company will attract to the committee will be to go in the Layer 1 direction by bringing Crypto Stablecoin case studies as an example. 

The blockchain tech company lets it be known that Stellar’s foundation, the Stellar Development Foundation (SDF) now part of the United States Commodity Futures Trading Commission’s (CFTC) Worldwide Markets Advisory Committee (GMAC), will be able to meet in joint session next 30 days on the 13th for the 1st time.

The Stellar blockchain tech serves as an exchange solution for transactions betwixt cryptocurrency 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. 

Reports by 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 crypto stablecoins in digital investment markets and real-world use cases, including the exploitation of crypto stablecoins in the delivery of humanitarian aid.”

Stellar (XLM) is likewise 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 numerous corporations from classical finance and beyond likewise sit. 

Among the member corporations together with Stellar on the Worldwide Market Advisory Committee are CoinFund, Uniswap Labs, the Digital Chamber of Commerce, HSBC, Goldman Sachs Group, 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 1st 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. 

Along with internal organization, there will likewise 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 Worldwide Markets Advisory Board and assist secure that the conversation includes a blockchain tech perspective.”

In an interview a week ago, Caroline Pham spoke about her commitment to the cause. 

Pham has met greater than 75 times with the parties to be able to find common ground on comprehensive regulation on the cryptocurrency world. 

Since she was appointed by United States President Joe Biden greater than last year, Caroline Pham has been holding tight meetings on mass adoption of the cryptocurrency world and making life easier in finance. 

Four months ago, she proposed to set up an internal CFTC office to defend consumers, a sort of Banking Ombudsman of the United States Security and Exchange Commission (SEC).


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