#CFTCCryptoSprint The United States Strengthens Its Position in the Cryptocurrency Market: CFTC Launches New Regulatory Initiatives*🔥

The U.S. Commodity Futures Trading Commission (CFTC) has begun implementing the White House’s recommendations on cryptocurrencies, aiming to make America the capital of cryptocurrencies in the world. This includes working closely with the U.S. Securities and Exchange Commission (SEC) to regulate cryptocurrencies.

*Key Recommendations*

- Providing guidance on how cryptocurrencies are considered commodities

- Defining how registration requirements work with decentralized finance

- Considering amending rules to accommodate blockchain-based derivatives

- Creating a regulatory sandbox

- Allowing registrants to offer multiple services within a single user interface

*Joint Work with SEC*

- Coordinating to establish a rulemaking process

- Utilizing their existing authorities to provide full regulatory clarity

*Steps Taken by CFTC*

- Meeting with cryptocurrency executives to discuss the industry

- Withdrawing outdated staff advisories related to cryptocurrencies

- Concluding consultations on allowing 24/7 trading of derivatives and perpetual contracts