The US Commodity Futures Trading Commission has launched an initiative that enables the trading of “spot cryptocurrency agreements” regarding CFTC registered futures exchanges.
The invitation is part of the CFTC’s “Crypto Sprint” initiative to implement recommendations from President Donald Trump’s working group on digital assets markets, including 18 recommendations.
“The CFTC is fully sprinted by working with SEC’s Project Crypto to enable immediate trading of digital assets at the federal level,” CFTC’s representative chairman Caroline Fam wrote in a statement Monday.
“There’s a clear and simple solution that CFTC can implement.”
The Spot Crypto Asset agreement reflects the price of Spot Crypto and is similar to futures-style listing agreements traded in the CFTC Registered Designated Contract Market (DCM).
CFTC is usually limited to regulations on derivative products rather than products, except in cases of fraud or market manipulation.
CFTC is looking for public input
The CFTC specifically seeks feedback regarding the application of Section 2(c)(2)(d) of the Product Exchange Act and Part 40 of the CFTC Regulations.
Sections 2(c)(2)(d) require that retail goods transactions, including leverage, margin, or financing, be carried out in the CFTC Registered DCM.
Part 40 of the CFTC Rules is about the rules of the DCM, including registration and compliance requirements, enforcement regulations and more.
CFTC seeks opinions on the potential impacts under the securities law, including how the SEC framework applies to assets other than transactions that may constitute an investment contract.
Public comment submission period ends on August 18th.
18 Recommendations for CFTC
The Working Group Crypto Policy Recommendations Report, released last week, advised CFTC to provide a more clear overview of how cryptocurrencies are considered products. How registration requirements work with decentralized financial market participants. Provides guidance to CFTC regulatory entities on what they can do with cryptographically.
Related: US Department of Justice CFTC End Polymake Survey – Report
Another major task is to consider how to modify rules to accommodate blockchain-based derivatives.
The additional 16 recommendations for CFTC were tied to other financial institutions such as the SEC and the Ministry of Finance.
Currently, CFTC is short on three commissioners
The CFTC is currently running alongside two commissioners, Pham and Kristin N. Johnson, who are scheduled to leave later this year.
Former CFTC chair Rostin Beanham resigned on January 20, 2025, when the Trump administration took over, while Summer Melsinger and Christy Goldsmith Romero resigned in late May.
Meanwhile, the selection of Trump’s permanent chair, Brian Quintz, remains in the frontier after the White House postponed the Senate vote on his nomination last week.
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