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The CFTC launched its second phase of “Crypto Sprint” to advance to implement the recommendations of the President’s digital assets.
The US Commercial Futures Commission (CFTC) announced the second phase of its “Crypto Sprint” initiative.
It opened public comments on the implementation of the President’s work group for markets with digital active markets.
In a declaration, The reigning chairwoman of CFTC, Caroline Pham, noted that public entry would help to achieve a crypto vision of President Donald Trump.
“Public feedback will help CFTC to care for relevant questions for lever, marginal, or funded retail trading on the registered CFTC stock exchange in implementing the President’s Directive.”
Trump’s crypto agenda
A report published at the end of July recommended Two main events. First, accelerating the complex law on the structure of the market through Congress.
Source: White House
Second, cooperation between CFTC and SEC aims to integrate defi and crypto into common financial markets.
Start by inviting CFTC during the first “Crypto Sprint” public entry On the proposal for a unified license including crypto trading on site and futures. This initial feedback window was closed on 18 August.
Moving forward is scheduled for the second phase of wiring until October 20.
In parallel, CFTC works closely with SEC through its “Project Crypto” initiative. This joint effort reflects the responsibility of shared supervision agencies under the Clarity Act, which regulates the regulation of digital assets.
Reaction to update, President of Moonpay, Keith Grossman, Wagon move. He added that it was the best way forward to create a “rational” and “transparent” framework for this industry.
Source: x
Upon accession, the agency will publish instructions to indicate how the parties should operate on the basis of a license for unified crypto and derivatives.
Within this latest initiative, the agency deals with a number of questions, including the classification of crypto assets as commodities or securities.
Also 221a Consulting in Crypto recommended Implementation of the lever effect on the protection of retail investors. It also demanded clearer definitions of distinguishing commodities from securities.
In response, the Commission plans to issue a new directive in accordance with the second initiative, although the Senate continues to prepare the wider law on the market structure.
In particular, some experts support this approach to creating rules. Jake Chervinskya prominent legal expert, note The fact that issuing targeted instructions can be more efficient than relying on the questionable framework of the market structure.
Source: x
