CFTC Begins Second “Crypto Sprint” to Push Forward White House Crypto Objectives
The U.S. Commodity Futures Trading Commission (CFTC) has launched a second “crypto sprint” aimed at advancing policy steps recommended by the White House and the President’s Working Group on Digital Asset Markets. This new effort centers on outreach and stakeholder engagement, with the agency asking market participants for input on how it should approach regulation of spot cryptocurrency trading.
Acting CFTC Chair Caroline D. Pham invited public feedback to help shape the agency’s approach, particularly on issues related to leveraged, margined or financed retail trading that would occur on a CFTC‑registered exchange. The CFTC set a deadline for submissions of comments and suggestions on Oct. 20.
The second sprint follows an earlier initiative by the agency that explored mechanisms for permitting trading of spot crypto contracts on CFTC‑registered futures exchanges. That first sprint and the current outreach come in the wake of a White House report outlining a wide set of policy recommendations for U.S. crypto markets.
Among the President’s Working Group’s recommendations were 18 items affecting the CFTC. Two specifically directed the agency to clarify when cryptocurrencies should be treated as commodities and how decentralized finance firms might meet registration and compliance obligations, and to consider amendments to rules to accommodate derivatives tied to blockchain assets. The remaining recommendations generally involved coordination with other agencies, including the Treasury and the Securities and Exchange Commission.
The agency’s sprint process has also included a stated willingness to coordinate with the SEC to create clearer rulemaking paths and to use existing authorities to provide regulatory clarity. Observers see these steps as part of a broader push from the administration to accelerate U.S. crypto policy and market development.
The CFTC’s leadership situation remains in flux. A permanent nomination for chair has been delayed in the Senate, and industry groups have publicly urged prompt confirmation of a nominee they view as important for the regulator’s ability to carry out its crypto agenda. At present the commission is operating with two commissioners; additional departures and prior resignations have left the agency with a reduced membership while it pursues the sprint initiatives.
The agency’s call for comments is positioned as an opportunity for exchanges, trading firms, market participants and other stakeholders to shape how spot markets and retail trading are supervised and to identify potential rule or policy changes the CFTC should consider.
