CFTC kicks off new ‘Sprint’ initiative to advance Trump’s crypto regulatory roadmap
Quick Take The U.S. CFTC announced “Crypto Sprint,” an initiative to actualize recommendations from the recent digital asset report from President Trump’s working group. CFTC Acting Chair Caroline Pham said the agency will actively collaborate with the SEC to facilitate the U.S. financial system’s move onchain.
The U.S. Commodity Futures Trading Commission is launching a "Crypto Sprint" to implement recommendations from the recent White House digital asset report.
“The CFTC is wasting no time in fulfilling President Trump’s vision to make America the crypto capital of the world,” said CFTC's Acting Chairman Pham in an official statement. "Providing regulatory clarity now and fostering innovation in digital asset markets will deliver on the Administration’s promise to usher in a Golden Age of Crypto.”
Last week, President Donald Trump's Working Group on Digital Asset Markets published a comprehensive report that lays out a roadmap for bringing crypto to the mainstream financial system in the U.S. while fostering innovation.
The 168-page report called for Congress to affirm that people can custody their own crypto without a middleman in place and urged regulators to clarify permissible crypto-related activities for banks, among others touching a variety topics including a crypto stockpile, stablecoins and taxes.
Regarding CFTC in particular, the report recommended granting the commission the authority over spot markets for crypto assets that are classified as commodities, and collaborating with the Securities and Exchange Commission to bring clarity for digital asset users and businesses in trading or registration processes.
While CFTC's latest Crypto Sprint announcement did not specify details on what suggestions the commission would work on, Acting Chair Pham said it would work closely with the SEC to achieve Project Crypto.
Project Crypto , which also builds off of the White House report, is an initiative to modernize securities rules and regulations to facilitate the financial system's move onchain. More specifically, SEC Chair Paul Atkins said the agency will work on drafting rules around crypto distributions, custody and trading.
These latest movements sharply contrast with the previous administration's less accommodating and often ambiguous stance on cryptocurrencies, a position that drew consistent calls for clarity from industry stakeholders.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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