The U.S. Commodity Futures Trading Commission (CFTC) is beginning an exploration of spot crypto trading on futures exchanges, marking the start of their new 'Crypto Sprint' initiative.
Launch of 'Crypto Sprint' Initiative
CFTC has officially announced the start of the 'Crypto Sprint' initiative aimed at exploring spot trading of crypto assets on CFTC-regulated exchanges. In her statement, Acting Chairman Caroline Pham highlighted the need for new solutions to regulate digital assets at the federal level.
Feedback and Suggestions
CFTC is gathering feedback and suggestions regarding the listing of spot asset contracts on CFTC-regulated platforms. The deadline for submissions is August 18. Pham emphasized that current legislative requirements allow for changes to enable crypto trading without significant alterations to the regulatory framework.
Collaboration with SEC
This initiative from the CFTC also coincides with cooperative efforts with the U.S. Securities and Exchange Commission (SEC) to streamline the regulatory framework for the crypto market. The SEC has also launched the 'Project Crypto,' aimed at drafting new rules for crypto custody and licensing.
The CFTC's initiative for spot crypto trading represents a key step in establishing a clear regulatory framework for digital assets in the U.S., which could contribute to further development of the cryptocurrency market.
