The Commodity Futures Trading Commission (CFTC) is launching a fast-track initiative called “Crypto Sprint” to clear up the rules around spot crypto trading. This focuses on spot crypto contracts traded on CFTC-registered exchanges.
What’s the Goal?
Acting CFTC Chair Caroline Pham says the goal is to quickly create a regulatory framework for these spot crypto contracts. She envisions leveraging existing laws to allow spot crypto trading on designated contract markets (DCMs). This would involve letting people trade crypto with leverage, margin, or financing on these regulated exchanges. Pham emphasized a collaborative approach, inviting input from everyone involved.
The Call for Input
The CFTC wants feedback from stakeholders by August 18th. This push for public input aligns with the SEC’s “Project Crypto,” which also aims to create a regulatory framework for digital assets.
A Quick Timeline
This initiative builds on Pham’s previous proposals from 2022. The CFTC aims to make the US a global leader in the crypto space.
Disclaimer
This information is for general knowledge and shouldn’t be considered investment advice. Always do your research before investing in cryptocurrencies. Any trading or transfers are done at your own risk.