Interim Chair, Caroline D. Pham, announced that the initiative will begin immediately, focusing on federal trading standards and broader market oversight. Pham stated that the administration prioritizes immediate spot trading of digital assets.
Confirmed that the CFTC has received strong support for its spot cryptocurrency trading initiative, which operates in conjunction with the SEC's Crypto Project. Together, these programs respond to President Trump's call to boost American leadership in digital finance.
According to Pham, the initiative marks a new stage for the industry. She described it as the beginning of a "golden age of innovation" where market participants must seize the opportunity. Therefore, the CFTC will extend its involvement to all other recommendations from the report "Strengthening American Leadership in Digital Financial Technology."
The report sets out a roadmap to balance innovation with oversight. It also highlights areas such as leveraged retail trading, margin trading, and funding on regulated exchanges, indicating the Commission's intention to address complex risks without stifling growth.
Public participation is crucial in the process. The CFTC has opened a comment period until October 20, 2025, and invited industry leaders, investors, and innovators to submit their comments through its official website.
Pham reaffirmed that the Commission is prepared to assess both risks and opportunities as it advances responsible regulation. She emphasized that collaboration with the SEC, market participants, and the White House will be essential to maintain the competitiveness of the United States globally.
This second cryptocurrency sprint follows one launched earlier this month, focused specifically on spot trading standards. This initiative attracted significant attention from stakeholders, and the new phase expands the scope to encompass broader issues in the digital asset market.
With the consultation period open, the CFTC has positioned itself as a central player in shaping the country's digital finance framework. Therefore, industry voices now have a direct role in influencing future standards and defining the United States' position in the global digital economy.
