Key Takeaways
CFTC has launched its second phase of ‘Crypto Sprint’ to advance the implementation of the President’s Digital Assets Working Group recommendations.
The U.S. Commodity Futures Trading Commission (CFTC) has announced the second phase of its ‘Crypto Sprint’ initiative.
It has opened public comments related to the implementation of the recommendations of the President’s Working Group on Digital Asset Markets.
In a statement, the acting CFTC chair, Caroline Pham, noted that public input would help achieve President Donald Trump’s crypto vision.
“The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined, or financed retail trading on a CFTC-registered exchange as we implement the President’s directive.”
Trump’s crypto agenda
The report released in late July recommended two main actions. First, accelerating a comprehensive market structure bill via Congress.
Source: White House
Secondly, the collaboration between the CFTC and SEC aims to integrate DeFi and crypto into mainstream financial markets.
To begin with, during the first “Crypto Sprint,” the CFTC invited public input on the proposal for a unified license covering both spot and futures crypto trading. This initial feedback window closed on the 18th of August.
Moving forward, the second phase of engagement is scheduled to conclude by the 20th of October.
In parallel, the CFTC is working closely with the SEC through its “Project Crypto” initiative. This joint effort reflects the agencies’ shared oversight responsibilities under the CLARITY Act, which governs digital asset regulation.
Reacting to the update, Moonpay’s President, Keith Grossman, hailed the move. He added that it was the best way forward to craft a ‘rational’ and ‘transparent’ framework for the sector.
Source: X
Following the input, the agency will release guidance outlining how stakeholders should operate under the unified crypto spot and derivatives trading license.
As part of this latest initiative, the agency will tackle a range of issues, including the classification of crypto assets as commodities or securities.
Also, 221A Consulting in Crypto recommended implementing a leverage limit to protect retail investors. It also called for clearer definitions distinguishing commodities from securities.
In response, the Commission plans to issue a new directive aligned with the second initiative, even as the Senate continues drafting the broader market structure bill.
Notably, some experts support this rulemaking approach. Jake Chervinsky, a prominent legal expert, noted that issuing targeted guidance may be more effective than relying on the more contentious market structure framework.
Source: X
