The U.S. Commodity Futures Trading Commission (CFTC) has rolled out its second “crypto sprint,” this time inviting public feedback from market participants on how the agency should approach regulating spot cryptocurrency trading.
Acting Chair Caroline D. Pham announced the initiative on Thursday, stressing that the regulator wants stakeholder input to guide potential rulemaking.
“The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined, or financed retail trading on a CFTC-registered exchange,”
Pham said.
Together, the @SECGov’s Project Crypto and the @CFTC’s Crypto Sprint are coordinating to answer President @realDonaldTrump’s call to action for American leadership. We are going to win on crypto! ???????????? https://t.co/yi74rNCK16
— Caroline D. Pham (@CarolineDPham) August 21, 2025
The move follows the first “crypto sprint” earlier this month, which examined how spot crypto contracts might be traded on CFTC-registered futures exchanges. Both efforts stem from the 166-page report issued by the President’s Working Group on Digital Asset Markets, which outlined 18 policy recommendations for federal agencies.
Of those, two tasks were assigned directly to the CFTC: providing guidance on how cryptocurrencies qualify as commodities and how decentralized finance platforms can comply with registration, and reviewing its rules to accommodate blockchain-based derivatives. Sixteen additional recommendations involve coordination with the Treasury Department, the Securities and Exchange Commission, and other agencies.
The Trump administration has made crypto policy a priority, with Pham describing the effort as part of President Donald Trump’s promise to “win on crypto.” She added, “The Trump Administration has ushered in a new dawn for crypto, and it’s up to market participants to seize this opportunity to be a part of the Golden Age of innovation.”
The CFTC has set an October 20 deadline for crypto stakeholders to submit feedback. The CFTC is currently operating with just two commissioners: Pham and Kristin N. Johnson, who is expected to depart later this year.
Trump’s nominee for CFTC chair, Brian Quintenz, remains in confirmation limbo after a Senate vote was postponed in July. On Wednesday, several industry advocacy groups urged lawmakers to approve his appointment swiftly, calling a permanent chair “absolutely critical” for the agency to achieve its crypto regulatory goals.
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