#CFTCCryptoSprint

Efforts by President Trump's administration to implement its regulatory plan related to digital cryptocurrencies were launched by the Commodity Futures Trading Commission (CFTC) to execute the recommendations contained in a report issued by the White House working group on digital asset markets that was formed during Trump's presidency.

Summary of the relationship

* Trump's Plan: The Trump administration aims to make the United States (the capital of cryptocurrencies in the world) and transferring the authority to regulate digital assets from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC) is a key part of this plan.

* CFTC Commission: Caroline Pham, the acting chair of the CFTC, announced that the initiative comes to meet Trump's vision and stated that the commission is not wasting any time in realizing President Trump's vision of making America the capital of cryptocurrencies in the world.

* Common Goals: The initiative aims to provide regulatory clarity and encourage innovation in the digital asset market, which aligns with the goals set forth by the Trump administration. The initiative also aims to enable spot cryptocurrency trading on registered exchanges.

* Cooperation: There is cooperation between the CFTC and the SEC, as both agencies are working to implement the recommendations of the White House report, focusing on updating rules and regulations to facilitate the transition of the financial system to blockchains.