CFTC, SEC Launch “Crypto Sprint” with 18 Key Reforms to Regulate Digital Assets
Big news! The US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC)...
Quick overview
- The CFTC and SEC have launched the 'Crypto Sprint' initiative to implement 18 recommendations from the White House report on digital assets.
- The initiative aims to create a unified regulatory framework, including a regulatory sandbox and harmonized rulemaking timelines.
- The CFTC will gain authority over non-security digital asset spot markets, enhancing its jurisdiction.
- Leadership changes at the CFTC include the nomination of Brian Quintenz to head the agency, pending White House review.
Big news! The US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have launched the “Crypto Sprint” initiative following the White House report on digital assets. The project will implement 18 recommendations, 2 exclusive to the CFTC and 16 cross-agency.
Acting CFTC Chair Caroline Pham announced the agency is working closely with SEC leaders, including Chair Paul Atkins and Commissioner Hester Peirce, to advance policy reforms to promote regulatory clarity and innovation.
The White House initiative is part of a broader strategy to make the US the digital asset hub. Among the CFTC’s exclusive mandates:
- Provide guidance on how digital assets are commodities
- Clarify how DeFi projects fit into registration requirements
Joint Framework to Regulate Crypto
The centerpiece of the collaboration is a directive for the CFTC and SEC to create a unified regulatory framework. This includes:
- A regulatory sandbox for pilot programs
- Harmonized rulemaking timelines between agencies
- Long term plans for a unified user interface for regulatory services
The White House also recommends the CFTC have authority over non-security digital asset spot markets, a big structural change that would give the agency more jurisdiction.
Both agencies are working with Congress to define their roles and provide legal clarity for market participants, especially for projects that operate across multiple jurisdictions.
Policy Reforms and Industry Engagement
The CFTC has not wasted time modernizing its internal policies to align with this national strategy. Recent initiatives include:
- Rescinding old crypto advisories
- Finalizing 24/7 trading and perpetual contracts consultations
- Engaging with private sector firms on tokenization and blockchain-based derivatives
Public engagement is also expanding. The CFTC has opened comment periods on emerging financial instruments and announced pilot programs to study tokenization and perpetual derivatives.
Leadership at the CFTC is also changing as Brian Quintenz, a crypto policy veteran from Andreessen Horowitz, has been nominated to head the agency. His nomination is pending White House review.
The “Crypto Sprint” puts the US regulatory apparatus in position to lead global crypto governance while creating an environment of innovation, transparency and investor protection.
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