The U.S. Commodity Futures Trading Commission (CFTC) has officially launched a new initiative called the “crypto sprint”, designed to accelerate the development of clear, modern rules for digital assets. This fast-tracked effort comes in response to 18 recommendations from President Donald Trump’s working group on digital assets and is part of a broader push to support innovation while providing regulatory clarity for the cryptocurrency industry.
CFTC and SEC Join Forces on Project Crypto
Acting CFTC Chair Caroline Pham announced that the agency will work closely with Securities and Exchange Commission (SEC) Chair Paul Atkins and Commissioner Hester Peirce under a new joint initiative named Project Crypto. The project aims to clarify how digital assets are regulated, especially in areas like crypto classification, decentralized finance (DeFi), and blockchain-based derivatives.
This collaboration is intended to streamline oversight and avoid regulatory confusion, particularly as the crypto sector continues to grow rapidly. By aligning efforts across major financial regulators, the CFTC hopes to create a unified and transparent regulatory environment.
Outdated Crypto Advisories Withdrawn as Industry Consultations Advance
To kickstart the crypto sprint, the CFTC has already withdrawn outdated crypto advisories and is actively engaging with key stakeholders in the crypto industry. According to Pham, meetings with digital asset firms and innovators have already taken place, offering valuable insight into the challenges and needs of the sector.
The agency also recently concluded public consultations on the possibility of 24/7 derivatives trading, which could reshape how markets operate in the future. These discussions are part of a larger effort to modernize CFTC rules and make them more relevant in the era of digital assets.
President Trump has signaled his continued support for the crypto industry by nominating Brian Quintenz, a well-known crypto policy advocate, to lead the CFTC. His appointment would further strengthen the agency’s commitment to fostering a crypto-friendly regulatory environment.
In summary, the CFTC’s crypto sprint and Project Crypto are laying the groundwork for a more innovation-focused approach to digital asset regulation. With enhanced cooperation between federal agencies and direct engagement with industry leaders, the United States may be on track to become a global hub for responsible crypto development.
