#CFTCCryptoSprint

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🇺🇸💰🚀 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 regarding cryptocurrencies, aiming to make America the cryptocurrency capital of the world. This includes working closely with the U.S. Securities and Exchange Commission (SEC) to regulate cryptocurrencies.

*Key Recommendations*

- Provide guidance on how to consider cryptocurrencies as commodities

- Define how to meet registration requirements with decentralized finance

- Consider amending rules to accommodate blockchain-based derivatives

- Create a regulatory sandbox

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

*Joint Work with SEC*

- Coordinate to establish a rulemaking process

- Use their existing authorities to provide full regulatory clarity

*Steps Taken by CFTC*

- Meeting with cryptocurrency executives to discuss the industry

- Withdrawing old staff advisories related to cryptocurrencies

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