The U.S. Commodity Futures Trading Commission (CFTC) has launched a pilot program allowing the use of Bitcoin (BTC), Ethereum (ETH), and the USDC stablecoin as collateral in the U.S. derivatives market. The program is open to approved futures commission brokers and includes stringent custody, reporting, and regulatory requirements. The agency has also updated its guidance on tokenized assets under the GENIUS Act and removed outdated restrictions.