CFTC Seeks Guidance from DeFi Specialist to Develop International Cryptocurrency Regulations

The Commodity Futures Trading Commission (CFTC) has named Avery Ching, co-founder and CEO of

Labs, to serve on its Global Markets Advisory Committee (GMAC) Digital Asset Markets Subcommittee. This appointment highlights the CFTC’s commitment to refining digital asset oversight while drawing upon the expertise of industry leaders as the landscape continues to develop [ 1 ]. Ching will work alongside other leaders from both digital and traditional finance, such as Scott Lucas of and Sandy Kaul of Franklin Templeton, providing guidance on digital asset market structures, regulatory approaches, and classification systems [ 2 ].

The Digital Asset Markets Subcommittee, created in February 2023 under the leadership of Acting Chairwoman Caroline Pham, is focused on tackling the intricacies of digital asset regulation. Its latest initiatives include developing standardized language for central bank digital currencies (CBDCs), stablecoins, and other crypto products to enhance transparency and regulatory certainty [ 3 ]. Ching’s selection comes amid broader CFTC initiatives to involve industry voices in forming balanced policies that foster innovation while safeguarding market stability. The subcommittee’s proposals are expected to shape global standards and foster regulatory cooperation, especially as organizations like the SEC advance parallel efforts such as the Crypto Task Force [ 4 ].

Aptos Labs, a developer of Layer 1 blockchain technology, aims to link decentralized finance (DeFi) with the traditional financial sector. Its collaborations with Microsoft, SK Telecom, and Brevan Howard showcase a commitment to robust and scalable blockchain infrastructure. The native Aptos token (APT) is valued at $4.79, with a total market cap of $3.1 billion, reflecting heightened institutional interest in blockchain technology [ 5 ]. Ching’s new regulatory position may further boost investor trust in Aptos, especially as the Aptos Ascend platform—designed for financial institutions—illustrates the network’s ability to address compliance needs [ 6 ].

The CFTC’s broader role in cryptocurrency regulation fits into a wider shift in oversight anticipated for 2025. U.S. regulators are refining rules to better define tokens, improve enforcement, and manage cross-border issues. International organizations such as the Financial Action Task Force (FATF) and the Bank for International Settlements (BIS) are also encouraging global cooperation, helping maintain the influence of U.S. policies as institutional adoption accelerates [ 7 ]. For Aptos, the appointment is a strategic step towards navigating evolving regulations, especially as asset tokenization and tokenized collateral become more prominent.

Ching brings significant infrastructure experience, including his earlier involvement with Meta’s Diem blockchain, making him a vital contributor to discussions on digital asset policy. The CFTC’s advisory framework promotes collaboration between regulators and industry participants, potentially expediting regulatory clarity for institutions looking to integrate crypto assets into trading, custody, and payments [ 8 ]. As the subcommittee advances, its focus on tokenized collateral and market taxonomy may set new standards for digital asset classification and use, potentially transforming competitive dynamics within the industry.