The US Commodity Futures Trading Commission has launched an initiative to enable trading of “Spot Crypto Asset Contracts” in exchanges of futures registered with the CFTC.
The invitation is Part of the CFTC’s The “Crypto Sprint” initiative to implement recommendations from President Donald Trump’s working group to digital asset markets, which included 18 recommendations.
“The CFTC is full speed in advance of enabling immediate trading of digital assets at the federal level in the coordination of the Sec’s Crypto project,” write CFTC’s acting chair Caroline Pham in a statement on Monday.
“There is a clear and simple solution that the CFTC can implement today.”
A crypto-owned contract resembles a futures-style, listed contracts with glass prices and exchanged with a registered registered contract (DCM) market.
The CFTC is generally limited to regulating derivatives products than goods, except in cases of fraud and market manipulation.
CFTC is looking for public input
The CFTC specifically seeks comment on the application of Section 2 (C) (2) (d) of the Commodity Exchange Act and part 40 of CFTC regulations.
Section 2 (C) (2) (d) requires that the commodity retail transactions involving action, margin, or financing will be carried out in a DCM registered by the CFTC-which provides a legal framework for leveraged regulating leveraged Crypto spot contracts.
Part 40 of CFTC regulations are concerned with the rules for DCMs, including registration and compliance requirements and implementation provisions.
CFTC is also looking for Investment contract.
The period of submission of public comment will close on August 18.
18 CFTC Recommendations
Report of Policy Recommendations to Working Group, released last week, advised the CFTC to make it clear to formulate how cryptocurrencies could be considered goods;;;;;;;;;;;;;;;;;;;;;;; How its registration requirements will work Decentralized Finance market participants; And provide guidance to the CFTC creatures in what they can do in crypto.
Related: U.S. Department of Justice, CFTC End Polymarket Investigations – Report
Another main task is to consider how to change the rules to accommodate blockchain-based derivatives.
An additional 16 recommendations about the CFTC are tied to other financial agencies, such as SEC and Treasury.
CFTC is currently short on three commissioners
The CFTC is currently running with only two commissioners: Pham and Kristin N. Johnson, who are expected to leave next year.
Former cftc seat Rostin Behnam Resigned on January 20, 2025, when the Trump administration led, while the day Mersinger and Christy Goldsmith Romero dropped both in late May.
Meanwhile, Trump’s choice for permanent seat – Brian Quintenz – remains in Limbo after the White House Mediated to postpone A Senate vote in his nomination last week.
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