The US CFTC clarifies pilot requirements for crypto assets as collateral: BTC/ETH mortgages must meet a 20% capital adequacy ratio

According to market news, the U.S. Commodity Futures Trading Commission (CFTC) provides detailed guidance on pilot projects using crypto assets as collateral. The regulatory agency has notified that futures brokers (FCM) participating in the pilot must submit announcements to market participant departments stating that accepting crypto assets as margin starting date, the core points include: 1. Capital requirements: Only Bitcoin, Ethereum and stablecoins can be accepted as collateral, of which BTC/ETH is calculated based on a capital adequacy ratio of 20%, and stablecoins is 2%. Futures brokers participating in the pilot project can only accept Bitcoin, Ethereum or stablecoins in the first three months;2. Compliance and reporting obligations: Futures brokers participating in the pilot must promptly report major cybersecurity or system issues, and submit weekly reports on the total encrypted assets of customer accounts;3. Expand after three months: Other crypto assets can be used as collateral after three months, and some reports require termination;4. Restricted use: Only dedicated payment stablecoins are allowed to be deposited into the residual equity of the customer's quarantined account; crypto assets cannot be used for uncleared swap mortgages, but eligible tokenized assets can be replaced. 5. Requirements for derivatives clearing institutions: Clearing institutions that meet the CFTC's credit, market and liquidity risk requirements may accept crypto assets and stablecoins as initial margins for cleared transactions.