The Commodity Futures Trading Commission (CFTC) announced on Aug. 4 that it will begin developing a framework to support trading of spot crypto asset contracts on federally regulated futures exchanges. The regulator explained:
This is the first initiative in the CFTC’s crypto sprint to start implementation of the recommendations in the President’s Working Group on Digital Asset Markets report.
The plan would allow the listing of these contracts on CFTC-registered designated contract markets (DCMs), under existing legal authority. The effort represents the CFTC’s clearest step toward integrating digital asset markets into federal oversight.
Public engagement is now underway, with the CFTC calling for feedback on how to structure the listing of spot crypto asset contracts on DCMs. Commenters are encouraged to examine regulatory provisions including section 2(c)(2)(D) of the Commodity Exchange Act, Part 40 of CFTC rules, and relevant SEC securities frameworks. All comments must be submitted by Aug. 18 and will be made public on the agency’s website. Advocates say the initiative will help solidify U.S. leadership in digital markets, while critics warn of potential constraints on innovation.
The President’s Working Group released a crypto report last week, urging a coordinated regulatory framework. The report recommends that the U.S. Securities and Exchange Commission (SEC) and CFTC use their authority to bring clarity to the digital asset market. Following the report, SEC Chairman Paul Atkins launched “Project Crypto,” an initiative to modernize securities rules and regulations for the on-chain financial system. The CFTC also announced “Crypto Sprint” to implement the report’s recommendations.
Acting Chairman Caroline Pham reinforced the Commission’s reliance on the Commodity Exchange Act, which already requires retail commodity transactions involving margin, leverage, or financing to occur on a DCM. She emphasized:
Under President Trump’s strong leadership and vision, the CFTC is full speed ahead on enabling immediate trading of digital assets at the federal level in coordination with the SEC’s Project Crypto.
Pham stated that she has promoted this approach since 2022 and positioned it as a legally viable pathway to deliver regulatory certainty without delay. Collaboration with the U.S. Securities and Exchange Commission (SEC) remains central to the CFTC’s approach.
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