The Commodity Futures Trading Commission (CFTC) is launching an initiative for trading spot crypto assets on CFTC-registered futures exchanges, announced acting chair Caroline D. Pham on Monday.
This initiative marks the first step in the CFTC's crypto sprint to implement recommendations from the President's Working Group on Financial Markets' report on digital assets. Pham announced the crypto sprint last week.
"Under the strong leadership and vision of President Trump, the CFTC is moving at full speed to enable immediate trading of digital assets at the federal level in coordination with the Crypto SEC Project," said Pham.
She noted that there is a clear resolution within the current authority of the CFTC. The Commodity Exchange Act already requires that retail trading of commodities using leverage, margin, or financing is conducted on a designated contract market (DCM).
The CFTC is now inviting stakeholders to provide feedback on the listing of spot crypto asset contracts on DCM. The agency is specifically requesting opinions on section 2(c)(2)(D) of the Commodity Exchange Act, part 40 of the CFTC rules, and potential implications under securities laws regarding the SEC’s structure for trading non-security assets that are part of an investment contract.
Pham, who proposed this approach back in 2022, stated: "Together we will make America the global crypto capital."#CryptoTalks #MarketRebound #ProjectCrypto #TrumpTariffs