The U.S. Commodity Futures Trading Commission (CFTC) has launched its second “crypto sprint,” this time focused on engaging with industry stakeholders to act on recommendations from the President’s Working Group on Digital Asset Markets.
Acting Chair Caroline D. Pham said Thursday that the agency is seeking public input from crypto market participants to improve oversight of spot crypto trading.
“The feedback will help the CFTC carefully evaluate key issues related to leveraged, margined, or financed retail trading on CFTC-registered exchanges.”
Caroline D. Pham.
CFTC Seeks Public Feedback on Crypto Rules
The CFTC has asked crypto market participants to share their feedback and proposals by October 20.
Earlier this month, the regulator launched its first “crypto sprint” to study whether spot crypto asset contracts could be traded on CFTC-registered futures exchanges. That move came shortly after the Trump White House issued a 166-page report setting out policy recommendations for U.S. crypto regulation.
The President’s Working Group outlined 18 recommendations for the CFTC, with two specifically directed at the agency. One called on the CFTC to issue clear guidance on when cryptocurrencies qualify as commodities, how decentralized finance (DeFi) projects can meet registration requirements, and what crypto-related activities are permissible for CFTC-regulated entities. The other directed the agency to review and potentially update its rules to account for blockchain-based derivatives.
The remaining 16 recommendations involved coordination with other regulators, including the Treasury Department and the Securities and Exchange Commission (SEC).
In its first “crypto sprint” announcement, the CFTC said it would collaborate closely with the SEC to establish a rulemaking framework and use their existing powers to deliver comprehensive regulatory clarity.
The CFTC is currently functioning with only two commissioners in place. Pham and Commissioner Kristin N. Johnson, who is expected to step down later this year.
