The Acting Chair of the Commodity Futures Trading Commission (CFTC), Caroline Pham, announced last weekend that the agency will launch an initiative called 'Crypto Sprint' to begin implementing the recommendations outlined in the White House cryptocurrency policy report.
Pham stated that the CFTC will work closely with SEC Chairman Paul Atkins and Commissioner Hester Peirce on the 'Project Crypto' announced last week. She said:
The CFTC will not waste any time implementing President Trump's vision—making the United States the global capital of cryptocurrency.
Today I announced the @CFTC will start a Crypto Sprint to work closely with @SECPaulSAtkins and @HesterPeirce to achieve @SECGov #ProjectCrypto and deliver on President Trump’s promise of a Golden Age of Crypto. America is back! https://t.co/YtFyHqSDle pic.twitter.com/qv9w3UNhIg
— Caroline D. Pham (@CarolineDPham) August 1, 2025
These actions aim to implement specific recommendations directed at various regulatory agencies made by Trump’s 'Presidential Working Group on Digital Asset Markets' in a report stemming from the executive order on cryptocurrencies signed by Trump in January.
18 recommendations submitted to the CFTC
Trump's cryptocurrency task force submitted 18 recommendations to the CFTC, two of which directly involve the agency. The first direct request is to advance a series of actions, including providing guidance on how cryptocurrencies can be recognized as commodities, explaining how its registration requirements align with decentralized finance (DeFi), and providing guidance for entities regulated by the CFTC to engage in cryptocurrency business. Another task is to assess how to modify rules to accommodate blockchain-based derivative financial products.
An additional 16 recommendations related to the CFTC involve other financial regulatory agencies, such as the SEC and the U.S. Department of the Treasury.
Some recommendations call for the CFTC to work jointly with the SEC, including coordinating the process of rule-making and using their existing authority to provide comprehensive and clear regulatory guidelines. The two agencies were also asked to establish a regulatory sandbox and explore ways to enable registered entities to offer multiple services through a single user interface in long-term planning.
Several recommendations also call for Congress to clarify the division of responsibilities between the CFTC and the SEC in cryptocurrency regulation. The report indicates that the CFTC should be granted 'clear authority to regulate the spot market for non-security digital assets.'
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