Regulated spot crypto markets for the U.S. are the first out of the gate for the Crypto Sprint.
Listed spot cryptocurrency products will begin trading for the first time via U.S. federally regulated markets on futures exchanges registered with the Commodity Futures Trading Commission, says Caroline D. Pham, the acting chairman of the CFTC.
Caroline D. Pham
The milestone “follows recommendations by the President’s Working Group on Digital Asset Markets and stakeholder insights from the CFTC’s Crypto Sprint and cooperative engagement with the Securities and Exchange Commission,” CFTC officials say.
The move is being touted as “a significant step forward in the Trump Administration’s pledge to usher in a Golden Age of Innovation and make America the ‘crypto capital of the world,’ ” the announcement adds.
“Thanks to President Trump’s leadership, this administration has developed a comprehensive all-of-government plan for America to reclaim its place as the world leader in digital asset markets, and the CFTC has a central role to play,” says Pham in a prepared statement.
“Recent events on offshore exchanges have shown us how essential it is for Americans to have more choice and access to safe, regulated U.S. markets. Now, for the first time ever, spot crypto can trade on CFTC-registered exchanges that have been the gold standard for nearly a hundred years, with the customer protections and market integrity that Americans deserve,” Pham says.
“The Crypto Sprint also launched public consultations on all other recommendations from the President’s Working Group report relevant to the CFTC,” according to the announcement.
“Other components to the Crypto Sprint include enabling tokenized collateral, including stablecoins, in derivatives markets and a rulemaking to make technical amendments to the CFTC’s regulations for collateral, margin, clearing, settlement, reporting, and recordkeeping to enable the use of blockchain technology and market infrastructure, including tokenization in our markets,” according to the CFTC.
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