A Republican commissioner at the Commodity Futures Trading Commission (CFTC) proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.

Caroline Pham put forward her proposal as part of a speech she delivered Thursday to the Cato Institute, a libertarian think tank.

“A pilot program can create a safe framework for emerging technologies and market structures under our existing laws and regulations,” she said. A program would help U.S. regulators “stay ahead of the curve” on digital assets, rather than fall behind more forward-looking agencies in other countries, she said.