US CFTC Announces Next Phase of ‘Crypto Sprint,’ Seeks Public Feedback on Trading Rules
The US Commodity Futures Trading Commission (CFTC) has launched its next “crypto sprint” initiative, expanding to stakeholder engagement.
Announced on Thursday, the agency is seeking public input on how to better regulate spot crypto trading.
Running alongside the SEC’s Project Crypto, the initiative is a four-phased agenda that began early this month. The series of rulemaking efforts is designed to implement recommendations from the President’s Working Group on Digital Asset Markets.
“The Administration has made it clear that enabling immediate trading of digital assets at the Federal level is a top priority,” said acting CFTC chair Caroline Pham.
Public comments are due on October 20, with final rules expected in a fourth sprint phase.
The regulatory efforts follow the release of a 166-page White House report, outlining how America can become the “crypto capital of the world” through comprehensive policy reforms.
New CFTC Crypto Sprint Expands Beyond Spot Crypto Trading
With the new phase, Acting Chairman Pham will begin stakeholder engagement on all other report recommendations for the CFTC.
“The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined or financed retail trading on a CFTC-registered exchange,” she said.
The upcoming sprints are expected to tackle unresolved issues around crypto, such as tax clarity, banking access, among others. Further, the next phases would translate stakeholder feedback into formal rules.
Project Crypto to Make America Digital Asset Capital
SEC Chairman Atkins simultaneously announced Project Crypto at the America First Policy Institute, outlining plans to modernize securities regulations.
Launched on July 31, Atkins outlined plans to establish regulatory frameworks for digital asset trading.
Atkins also directed Commission staff to draft regulations that address the confusion surrounding the Howey test, which has led entrepreneurs to treat all crypto assets as securities preventively.
The post US CFTC Announces Next Phase of ‘Crypto Sprint,’ Seeks Public Feedback on Trading Rules appeared first on Cryptonews.
