Acting CFTC Chair Caroline Pham announced the 'crypto asset rollout' aimed at realizing the vision of making the U.S. the global capital of crypto assets.
The U.S. Commodity Futures Trading Commission (CFTC) has officially launched a comprehensive campaign to establish the U.S. as a digital asset powerhouse. Acting Chair Caroline D. Pham revealed on August 1 that the agency would begin the 'crypto asset rollout' to implement the policy guidelines outlined in the President's Working Group report on Digital Asset Markets.
Speaking from Washington D.C., Pham emphasized the CFTC's leadership role in coordinating digital asset regulation with other federal agencies. The goal is to establish a structured foundation for innovation in the U.S. crypto asset industry while realizing President Trump's vision of making America the capital of crypto assets.
"The CFTC is not wasting time implementing President Trump's vision. We will work closely with SEC Chair Paul Atkins and Commissioner Hester Peirce to achieve the Crypto Project," Pham stated. She emphasized that providing regulatory clarity and promoting innovation in the digital asset market will illuminate the 'Golden Age of Crypto Assets.'
Crypto Project and Interagency Coordination
In accordance with the recommendations of the President's Working Group on Digital Asset Markets, the SEC has launched the 'Crypto Project' alongside the CFTC's efforts. This initiative aims to modernize regulations for digital assets, including clearly defining what constitutes a security and creating specific guidelines for distribution and trading.
The CFTC has taken several important preparatory steps since the beginning of the year to lay the groundwork for this new phase. The agency has held the first Crypto Asset CEO Forum, rescinded outdated staff guidance, and issued updated regulatory guidelines to support domestic and international crypto asset entrepreneurs.
Modernization efforts also include initiating discussions on a pilot program for digital asset markets and confirming the observer role in the industry's tokenization efforts. The CFTC has completed a public consultation on perpetual derivatives and 24/7 trading – two standout features of the crypto asset market.
The results of these efforts have begun to materialize. Perpetual derivatives have been operating on CFTC-registered designated contract markets since April, while 24/7 trading officially began in May.