US CFTC Explores Spot Crypto Trading On Futures Exchanges As “Crypto Sprint” Initiative Kicks Off

The US Commodity Futures Trading Commission (CFTC) is exploring spot crypto trading on futures exchanges, marking the first step in its “crypto sprint” initiative.

“Under President Trump’s strong leadership and vision, the CFTC is full speed ahead on enabling immediate trading of digital assets at the Federal level in coordination with the SEC’s Project Crypto,” CFTC Acting Chairman Caroline Pham said in an Aug. 4 statement. 

CFTC

CFTC Acts On “Crypto Sprint” Initiative

In the statement, Pham said the spot trading initiative follows the recommendations in the US President’s Working Group on Digital Assets Markets report. 

“There is a clear and simple solution the CFTC can implement now, ” Pham said. “The Commodity Exchange Act currently requires that retail trading of commodities with leverage, margin, or financing must be conducted on a DCM,” she added. 

The CFTC is now asking for feedback and suggestions on how to list spot asset contracts on a DCM under the regulator’s existing authority, according to the announcement. 

The deadline for submissions is Aug. 18.

CFTC Move Follows SEC’s “Project Crypto”

The CFTC’s move also comes amid cooperative efforts between the agency and the US Securities and Exchange Commission (SEC) to bring regulatory clarity to the crypto market in the US. 

A priority of the two agencies has been the classification of cryptos as either securities or commodities. 

SEC Chairman Paul Atkins unveiled the “Project Crypto” initiative on July 31, which also acts on the recommendations from the President’s crypto working group. 

As part of the SEC’s initiative, the regulator will look to draft new rules around crypto custody and licensing. 

“Many of the Commission’s legacy rules and regulations do not make sense in the twenty-first century — let alone for on-chain markets,” Atkins said. 

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