#CFTCCryptoSprint The U.S. Commodity Futures Trading Commission (CFTC) has launched a regulatory initiative called "Crypto Sprint" to begin implementing the recommendations of the President's Working Group on Financial Markets.

Acting Chair Caroline Pham confirmed that the initiative aims to start the implementation of specific agency actions outlined in the executive order on digital assets.

The U.S. President's Working Group made 18 recommendations regarding digital asset markets. Two of these specifically direct the Commodity Futures Trading Commission (CFTC) to issue guidance on classifying digital assets as commodities and to review existing rules to account for blockchain-based derivatives. Sixteen other recommendations require engagement with the Securities and Exchange Commission (SEC), the U.S. Department of the Treasury, and other federal agencies.

Caroline Pham also confirmed that these efforts align with a broader regulatory framework called "Project Crypto," being implemented in conjunction with the Securities and Exchange Commission (SEC).

Source: CFTC