US CFTC Launches ’Crypto Sprint’ to Implement Digital Asset Regulatory Framework

The U.S. Commodity Futures Trading Commission (CFTC) has initiated a 'Crypto Sprint' to advance regulatory measures for digital assets, aligning with recommendations from the President’s Working Group on Digital Asset Markets. Acting Chairman Caroline Pham emphasized the initiative's focus on implementing agency-specific actions outlined in the WHITE House's executive order.

The CFTC will issue guidance on classifying digital assets as commodities and review existing rules for blockchain-based derivatives. Sixteen additional recommendations require collaboration with the SEC, Treasury, and other federal agencies. The effort is part of 'Project Crypto,' a joint initiative with the SEC to develop a unified regulatory approach, including a potential sandbox for digital assets.

Meanwhile, the SEC has begun a 'Crypto on the Road' tour to engage with small startups across 10 cities, signaling broader regulatory outreach. The CFTC is also seeking Congressional authority to oversee spot markets for non-security digital assets, marking a significant step toward clearer oversight in the crypto space.