CFTC announces the 'Crypto Sprint' program to accelerate the development of cryptocurrency in the United States.
Caroline Pham, Acting Chair of the Commodity Futures Trading Commission (CFTC), along with SEC commissioners Paul Atkins and Hester Peirce, will collaborate to promote the SEC's Project Crypto to realize the 'Golden Age of cryptocurrency' as committed by President Trump.
MAIN CONTENT
CFTC launches the Crypto Sprint program to support the development of cryptocurrency.
Close cooperation between CFTC and SEC in the Project Crypto initiative.
The goal towards the 'Golden Age of cryptocurrency' proposed by President Trump.
What are CFTC and the Crypto Sprint program?
Crypto Sprint is a new initiative by CFTC to accelerate the development of policies and technologies related to cryptocurrency in the United States. This is an important activity in promoting the safe and transparent development of the digital assets market under the close supervision of authorities.
The program focuses on building legal foundations, facilitating technological innovation, and enhancing collaboration among regulatory agencies in the field of cryptocurrency. Crypto Sprint aims to make the United States a leading cryptocurrency hub in the world.
Why is CFTC collaborating with SEC in the Project Crypto initiative?
CFTC together with SEC are two key financial regulatory agencies that play a crucial role in overseeing the cryptocurrency market and its derivatives. The collaboration between Caroline Pham (CFTC) and SEC commissioners Paul Atkins and Hester Peirce in the Project Crypto initiative helps maximize knowledge and resources to create a more comprehensive and effective legal framework.
This collaboration marks an important step as these agencies work together to build a transparent and sustainable development environment for the cryptocurrency market in the United States, bringing long-term benefits to users and investors.
We are committed to creating a legal ecosystem that supports innovation while also protecting investors and ensuring market integrity.
Caroline Pham, Acting Chair of CFTC, August 2023
The importance of the 'Golden Age of cryptocurrency' according to President Trump
The concept of the 'Golden Age of cryptocurrency' is aimed at developing cryptocurrency as a future financial foundation, creating economic and technological growth drivers for the country. The Project Crypto initiative along with the Crypto Sprint program is seen as a stepping stone to achieve this goal.
Enhancing the legal framework and support resources will help cryptocurrency grow stronger, expand applications in finance, trade, and Blockchain technology, create more business opportunities, and unleash creative potential in the global market.
Frequently asked questions
What is Crypto Sprint?
Crypto Sprint is a program initiated by CFTC to accelerate the development and improvement of the legal framework for the cryptocurrency market in the United States.
Why does CFTC need to collaborate with SEC?
CFTC and SEC oversee different aspects of cryptocurrency; collaboration helps create more consistent and effective policies.
What is the goal of the Project Crypto initiative?
Project Crypto aims to build a safe, transparent cryptocurrency ecosystem that fosters innovation and protects investors.
What is the 'Golden Age of cryptocurrency'?
This is a breakthrough development phase for cryptocurrency, enhancing its application and global status under the direction of President Trump.
Who are the SEC commissioners participating in the project?
Paul Atkins and Hester Peirce are SEC commissioners participating in collaboration with the Acting Chair of CFTC to develop the Project Crypto initiative.
Source: https://tintucbitcoin.com/cftc-va-sec-thuc-day-crypto-sprint/
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