GOLDILOCKS
Today, the Global Markets Advisory Committee Meeting subcommittee of the CFTC is meeting to make 3 recommendations for the markets going forward:
* The first-ever digital asset taxonomy. It is designed to promote regulatory clarity and international alignment.
* Basel 3 end game proposal.
* Transition to T+1 securities settlement and Treasury ETFs.
The role of this committee is to take a look at the legislative process and make recommendations for a bill to move it forward in Congress. Although committees only have the authority to advise, their recommendations go a long way in determining the contents of what goes on a legislative bill.
These three proposals are already in process. This committee is designed to focus attention on the details of what has already been introduced to Congress. These recommendations will provide more clarity for Congress to understand and work with current legislative bills already on the table.
The Financial Stability Board will be present at this meeting along with other prominent Global Financial Advisors. A vote will be taken today to move these legislative bills forward.
CFTC
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