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Take out a crypto-backed loan in the figure app today. Hey, everyone, you're watching CoinDesk. I'm Jen Sanassi. This week, we learned that the CFTC launched a pilot program allowing select

digital assets to be used as collateral in the U.S. derivatives market. Acting CFTC chair,

Caroline Fam joins me now, acting chair. I know

it's been a long journey to get here. Talk to us about what it took to get this pilot off the ground.

Well, thank you so much for having me back on the show. It's really great to be talking to all of the

viewers about this huge announcement that we made at the CFTC. So as you might remember, back in

2023, when I was a commissioner, I did a pilot program proposal for how we could safely test

incorporating digital assets into our CFTC markets, but with the appropriate guardrails.

So now as acting chairman and under the leadership of President Trump in this administration,

...