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Rita Dfouni
- CFTC and SEC launch a joint “Crypto Sprint” to implement the White House’s digital asset recommendations.
- 18 regulatory actions outlined, including clearer crypto commodity definitions and DeFi integration.
- Trump nominates Brian Quintenz to lead the CFTC as the agency pushes forward with 24/7 trading reforms.
The U.S. Commodity Futures Trading Commission (CFTC) has announced the launch of a joint initiative with the Securities and Exchange Commission (SEC) to accelerate the implementation of new crypto regulations, following directives issued by the White House.
Acting CFTC Chair Caroline Pham confirmed that the agency is initiating “Project Crypto” in collaboration with SEC Chair Paul Atkins and Commissioner Hester Peirce. The effort aligns with a series of recommendations published this week by the President’s Working Group on Digital Asset Markets, stemming from President Trump’s executive order issued in January.
“The CFTC is wasting no time in delivering on President Trump’s vision to make the U.S. a global hub for crypto innovation,” Pham stated on Friday.
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The working group’s report outlined 18 recommendations for the CFTC, including two directly assigned to the agency. One directs the CFTC to provide clarity on how digital assets qualify as commodities, how registration rules should apply to decentralized finance (DeFi), and what guidance should be offered to crypto-related entities under CFTC oversight. The second asks the agency to consider amending its rules to accommodate blockchain-based derivatives.
Congress urged to clarify oversight roles
Sixteen additional recommendations require collaboration between the CFTC, SEC, and Treasury Department, with key goals including the creation of a joint rulemaking framework, a regulatory sandbox for innovation, and pathways for financial platforms to offer multiple crypto services under one interface. The report also calls on Congress to clarify jurisdiction, suggesting that the CFTC be granted explicit authority over spot markets for non-security digital assets.
Pham noted that the agency has already taken initial steps, including meetings with crypto industry leaders and the withdrawal of outdated staff advisories. The CFTC has also concluded consultations on allowing 24/7 trading and perpetual derivatives contracts.
