Avery Ching, co-founder and CEO of Aptos Labs, has been appointed to the Commodity Futures Trading Commission (CFTC)'s Digital Asset Markets Subcommittee, placing him alongside representatives from major financial firms such as BlackRock, Goldman Sachs, and Citadel. This appointment underscores the CFTC's increasing effort to include blockchain builders in the regulatory process.
Ching brings a technical and regulatory background to the table, having previously led engineering at Meta's Diem project, giving him unique insight into blockchain infrastructure and compliance challenges. At Aptos, he helped develop a Layer 1 blockchain, making him a rare technologist in regulatory circles dominated mostly by finance professionals.
The CFTC subcommittee, which started developing digital asset regulatory frameworks in March 2024, is focused on stablecoins and central bank digital currency (CBDC) considerations. Aptos Labs' CEO joining the panel highlights the project's growing involvement in shaping U.S. crypto regulations.
Additionally, Wyoming's selection of Aptos as the primary infrastructure partner for WYST—the first fiat-backed stablecoin issued by a U.S. state—emphasizes Aptos's increasing government relevance. Bitwise's recent amendment filing for an Aptos-linked ETF also signals rising institutional interest, potentially enhancing regulatory and market recognition of the Aptos ecosystem.
The inclusion of Ching alongside leaders from traditional finance and crypto fields suggests a bridging of the gap between decentralized blockchain innovation and established financial institutions as the CFTC builds more scalable and informed regulatory frameworks.