US Commodity Futures Trading Commission Seeks Public Feedback on Crypto Regulation
The US Commodity Futures Trading Commission (CFTC) has launched its second “crypto sprint” initiative aimed at advancing the White House’s digital asset policy goals. Acting Chair Caroline D. Pham announced that the regulator is seeking public input on how to better regulate spot cryptocurrency trading, particularly for leveraged, margined, or financed retail trading on CFTC-registered exchanges.
Public Input and Regulatory Objectives
The CFTC’s call for feedback focuses on:
- Clarifying rules for spot crypto trading.
- Evaluating leveraged and margined retail transactions.
- Ensuring compliance with commodity laws for digital assets.
“The public feedback will assist the CFTC in carefully considering relevant issues,” said Pham. Stakeholders have until October 20 to submit comments.
This move follows the agency’s first crypto sprint earlier this month, which explored enabling spot crypto asset trading on CFTC-registered futures exchanges. These efforts align with the Trump administration’s promise to “win on crypto” and foster a Golden Age of innovation in the digital asset space.
Background: 18 Recommendations from the President’s Working Group
The President’s Working Group on Digital Asset Markets recently issued 18 recommendations for US crypto regulation. Of these, two key tasks were assigned directly to the CFTC:
- Provide clear guidance on:
- When cryptocurrencies qualify as commodities.
- How DeFi projects can meet registration requirements.
- Which crypto activities regulated entities can undertake.
- Consider rule changes to support blockchain-based derivatives.
The remaining 16 recommendations involve joint efforts with agencies like the Treasury and SEC, emphasizing a coordinated regulatory approach.
In its first crypto sprint, the CFTC announced plans to work with the SEC to establish a rulemaking process and leverage existing authority to bring regulatory certainty to the crypto market.
Leadership Uncertainty at CFTC
While regulatory efforts continue, leadership at the CFTC remains unsettled. Trump’s nominee for chair, Brian Quintenz, is awaiting Senate confirmation after the vote was delayed in July. Several crypto advocacy groups have urged a swift confirmation, citing the importance of leadership in achieving crypto policy goals.
Currently, the CFTC operates with only two commissioners—Caroline Pham and Kristin N. Johnson—following multiple resignations, including former Chair Rostin Behnam in January.
This second crypto sprint underscores the CFTC’s push for public engagement and a structured approach to regulation. If successful, it could bring greater clarity for spot crypto trading, DeFi compliance, and derivatives markets, positioning the US as a global leader in digital asset innovation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.