CFTC Launches New Phase of ‘Crypto Sprint’

Caroline Pham, the acting chairman of the Commodity Futures Trading Commission (CFTC), has announced the launch of a new phase of the cryptocurrency-related initiative called “crypto sprint.” 

The initiative was initially announced on Aug. 1 following the launch of the U.S. Securities and Exchange Commission’s “Project Crypto.”

Crypto sprint continues 

During this phase, the influential regulatory agency will keep implementing a slew of recommendations from the landmark White House report on digital assets that was introduced in July. 

Specifically, the report pushes for granting the CFTC jurisdiction over spot crypto markets for those tokens that are not considered to be securities. 

It also recommends establishing the agency’s authority over crypto exchanges. 

The second phase of “crypto sprint” focused on enabling the trading of spot digital asset contracts on regulated futures exchanges. Earlier this August, it started seeking public feedback on the listing of such contracts. 

SEC’s “Project Crypto” 

As reported by U.Today, the SEC also recently announced the launch of “Project Crypto,” which aims to create a modern regulatory framework for digital assets. 

The report introduced by the White House has introduced a broad cryptocurrency policy roadmap that also involves banking regulators, tax authorities as well as law enforcement agencies.