The Commodity Futures Trading Commission (CFTC) has announced the next phase of the agency’s “Crypto Sprint” initiative, which aims to examine and implement recommendations from the White House.
On Thursday, CFTC acting chair Caroline Pham announced that the agency would begin the next phase of its initiative to advance President Donald Trump’s vision and is seeking the public’s feedback on the recommendations in the President’s Working Group on Digital Asset Markets report.
Pham highlighted that the Trump administration has “made it clear that enabling immediate trading of digital assets at the Federal level is a top priority,” adding, “The Trump Administration has ushered in a new dawn for crypto, and it’s up to market participants to seize this opportunity to be a part of the Golden Age of innovation.”
“The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined or financed retail trading on a CFTC-registered exchange as we implement the President’s directive,” Pham stated.
“I am pleased with the many thoughtful letters from stakeholders in support of the CFTC’s listed spot crypto trading initiative, which, in coordination with the SEC’s Project Crypto, answers President Trump’s call to action for American leadership,” said the CFTC acting chair on Thursday.
A White House spokesperson denied that the agency is in disarray, telling the news media outlet that “President Trump has made it a priority to make America the crypto capital of the world, and in doing so has called for the revitalization of the Commodity Futures Trading Commission to play a larger role in securing this promise. Acting Chairman Caroline Pham has done a good job beginning this effort, and the Trump Administration is thankful for her leadership and dedicated public service.”
Meanwhile, the agency also remains in a leadership limbo after the US Senate Agriculture Committee delayed the vote on President Trump’s nominee for CFTC chairman, Brian Quintenz, days before the August recess.
“Mr. Quintenz possesses a singular capacity to advance sound and clear regulation that will foster responsible growth and innovation. He is, quite simply, the right person at the right time to lead the CFTC,” the letter concluded.
