GBBC's Diana Barrero Zalles Presents at U.S. CFTC GMAC Committee Meeting
Mar6,2024
On Wednesday March 6th, Diana Barrero Zalles, Global Blockchain Business Council (GBBC)’s Head of Research & Sustainability, presented the recommendations and publication of the Digital Asset Classification Approach and Taxonomy, put forth by the Digital Asset Markets Subcommittee (DAMS) workstream on taxonomy, during the U.S. Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC) meeting, alongside Adam Farkas (GFMA) and DAMS Co-Chairs Caroline Butler (BNY Mellon) and Sandy Kaul (Franklin Templeton).
This taxonomy was passed by majority vote and adopted. It reflects the consensus of key stakeholders including large global banks, crypto native firms, international organizations, and regulatory entities who came together over several months to agree upon digital asset categories and definitions.
U.S. CFTC Commissioner Caroline D. Pham shared, "In a major step forward, the digital asset taxonomy framework provides valuable foundational guidelines to further advance the discussion and promote U.S. regulatory clarity, and was extensively vetted by stakeholders such as regulatory authorities, financial institutions, asset managers, market infrastructures, and service providers. I’m grateful to all of the GMAC and Subcommittee members, especially the workstream leads, and the GMAC leadership team for their substantial work.”
The taxonomy, by identifying major categories of digital assets and specific instruments they entail, is intended to facilitate a use case-driven approach. GBBC, under the leadership of CEO Sandra Ro 🇺🇦, co-chairs the Taxonomy workstream and the Infrastructure working group under the GMAC initiative.
GBBC is deeply grateful to Allison Parent (GFMA) for her leadership co-chairing the Taxonomy workstream; Ninad Nirgudkar, Humza Samad, Roy Choudhury, and Kunal Jhanji (BCG) for their diligence bringing all the stakeholders’ voices together throughout the process; Caroline Butler (BNY Mellon) and Sandy Kaul (Franklin Templeton) for their leadership and support; and, to the entire taxonomy workstream participants. GBBC would also like to thank Commissioner Pham and the GMAC for advancing this discussion and promoting U.S. regulatory clarity.
