#CFTCCryptoSprint 🚀🤑💚🚀
🚨🔍It is a regulatory initiative launched by the Commodity Futures Trading Commission (CFTC) in cooperation with the Securities and Exchange Commission (SEC) in the United States. This initiative aims to implement the U.S. President's plan to make the United States "the capital of cryptocurrency in the world."
*Main objectives:*
- *Regulatory clarity*: Provide clear guidance to the cryptocurrency industry, including token classification, trading rules, and custody requirements.
- *Spot trading*: Exploring allowing registered platforms for futures trading to offer spot trading for major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL).
- *Market efficiency*: Improve market efficiency, increase investor access, and reduce fragmentation between spot and derivatives markets.
*Initiatives:*
- *24/7 trading*: The CFTC approved 24-hour trading and allowed perpetual futures on regulated platforms.
- *Asset tokenization*: Discussions have begun about launching pilot programs supporting asset tokenization and on-chain market infrastructure.
- *Stablecoin rules*: Regulators aim to settle the discussion around stablecoin rules and protect self-custody.
Current cryptocurrency prices
- *Bitcoin (BTC)*: The current price of Bitcoin is $114,008.23, with a decrease of 0.28% from the previous price. The daily trading volume reaches $24.19 billion, highlighting strong demand for the currency.
- *Ethereum (ETH)*: The price of Ethereum increased by 1.93% to $3,634.32. The positive momentum for Ethereum may be due to the growing interest in decentralized finance (DeFi) and non-fungible tokens (NFTs).
- *Solana (SOL)*: Solana experienced a rise of 6.23% at times, pushing its price to $169.14. High trading volume indicates that Solana is gaining favor among developers due to its scalability.
- *XRP*: The price of XRP increased by 1.20% to $0.5485.
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