In a pivotal step in the US digital asset regulation, the Commodities Futures Trading Commission (CFTC) has launched “crypto sprint.” This project, under the broader “Project Crypto,” aims to foster the US vision of becoming the global crypto capital. The primary goal of the commission is to ensure crypto regulatory clarity and investor protection.
CFTC Strengthens Crypto Regulation
In an official press release earlier today, the CFTC Acting Chairman Caroline D. Pham announced the launch of a “crypto sprint” to realize President Donald Trump’s vision of crypto capital. Pham 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.
Notably, the CFTC’s effort is part of a broader regulatory endeavor known as “Project Crypto,” which involves close collaboration with the Securities and Exchange Commission (SEC). As CoinGape reported, the SEC introduced Project Crypto to boost crypto regulation and promote Real-World Asset (RWA) tokenization.
CFTC’s Crypto Regulatory Initiatives
Interestingly, Acting Chair Pham has underscored the CFTC’s dedication to swift regulatory progress, focusing on defining roles, eliminating ambiguity, and developing a unified oversight framework for digital assets.
It is noteworthy that the commission has taken several steps to enhance regulatory clarity and support innovation since January. These include hosting its inaugural Crypto CEO Forum, withdrawing outdated guidance, and issuing new directives to provide clearer rules for crypto innovators and entrepreneurs. The commission is also considering a pilot program to test innovative approaches, balancing regulatory supervision with industry growth.
Recently, CoinGape wrote about the potential release of a discussion draft in September by the Senate Agriculture Committee, which oversees the CFTC. The paper intends to outline the commission’s regulatory role in the crypto industry. The move is expected to inject more clarity on the CFTC’s authority over digital commodities, complementing the Senate Banking Committee’s recent release focused on the SEC’s role in crypto regulation. The CFTC’s guidance will likely address its regulatory purview, including oversight of digital commodity spot markets and derivatives.
Additionally, the CFTC has completed a public comment period on 24/7 trading and perpetual derivatives. Perpetual derivatives have been live on CFTC-registered exchanges since April, and 24/7 trading has been operational since May.
Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master’s degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet.
Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
✓ Share: