BlockBeats News, August 2nd. Caroline D. Pham, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), announced today that the CFTC will launch a Crypto Sprint Initiative to begin implementing the recommendations of the President's Working Group on Financial Markets report.

“The CFTC is working diligently to realize President Trump's vision of making the United States the world's crypto capital,” Acting Chair Pham stated. “We will collaborate closely with SEC Chair Paul Atkins and Commissioner Hester Peirce to advance ‘Project Crypto.’ Providing clear regulation for the digital asset market now and fostering innovation will deliver on the government's commitment to usher in the crypto golden age.”

Officials noted that since January, the CFTC has hosted its first-ever Crypto CEO Forum, rescinded outdated staff letters, and issued new guidance to enhance regulatory transparency for U.S. and global crypto and digital asset innovators and entrepreneurs. The CFTC has discussed a pilot program for the digital asset market and participated as an observer in industry tokenization initiatives.

Furthermore, the CFTC recently concluded public comment periods on two crypto market innovations — 24/7 trading and perpetual derivatives. Perpetual derivatives have been trading on CFTC-registered designated contract markets (DCMs) since April, with 24/7 trading implemented since May.

BlockBeats previously reported that the SEC's Project Crypto initiative will enable the U.S. financial markets to achieve on-chain capabilities, helping President Trump make the U.S. the “world capital of cryptocurrency” and maintain America’s leading position in the crypto asset market.