CFTC Expands Stablecoin Collateral Rules to Include National Trust Banks

The US Commodity Futures Trading Commission has quietly rewritten its rulebook to accommodate a new class of crypto collateral. National trust banks now join state-regulated entities as approved issuers of margin-eligible stablecoins—a MOVE that signals deepening institutional acceptance of blockchain-based finance.

This technical adjustment to CFTC Staff Letter 25-40 follows December's landmark decision allowing futures brokers to hold certain digital assets in customer accounts. Where previous guidance only recognized stablecoins from money transmitters, the revised policy creates parity for federally chartered institutions.

The change aligns with Washington's shifting stance on digital assets. Market participants interpret the update as part of broader efforts to harmonize crypto regulation with traditional financial frameworks—a priority that gained momentum during the previous administration and continues evolving under current leadership.