Crypto Markets Face Rapid Transformation With CFTC’s Aggressive Crypto Sprint

CN
1 day ago

Commodity Futures Trading Commission (CFTC) Acting Chairman Caroline D. Pham disclosed on Aug. 1 that the agency will begin a “crypto sprint” designed to implement policy directions outlined in the President’s Working Group on Digital Asset Markets report. Speaking from Washington D.C., Pham emphasized the CFTC’s leadership role in coordinating digital asset regulation with other federal agencies to establish a structured foundation for innovation in the U.S. crypto industry. She stated:

The CFTC is wasting no time in fulfilling President Trump’s vision to make America the crypto capital of the world. We will work closely with SEC Chairman Paul Atkins and Commissioner Hester Peirce to achieve Project Crypto.

“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,” she added.

Following recommendations from the President’s Working Group on Digital Asset Markets report, the SEC has launched “Project Crypto.” The initiative aims to modernize regulations for digital assets, including defining what constitutes a security and creating clear guidelines for distribution and trading. The goal is to make the U.S. a global leader in crypto innovation and technology.

To build the foundation for this next phase, the CFTC has taken several steps since the start of the year. These include organizing the inaugural Crypto CEO Forum, rescinding outdated staff advisories, and issuing updated regulatory guidance aimed at supporting domestic and global crypto entrepreneurs.

The agency has also initiated discussions on a pilot program for digital asset markets and confirmed its observer role in various industry tokenization efforts. As part of its modernization drive, the CFTC finalized a public consultation on perpetual derivatives and 24/7 trading—two hallmark features of crypto markets. The commission reported that perpetual derivatives have been active on CFTC-registered designated contract markets (DCMs) since April, and 24/7 trading commenced in May.

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