The U.S. CFTC announces the launch of an encryption sprint program to align with the SEC's "Project Crypto".

On August 2, Caroline D. Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), announced today that the CFTC will launch a crypto sprint initiative to implement the recommendations of the President's Digital Asset Market Working Group report. "The CFTC is racing against time to realize President Trump’s vision of making the U.S. the world’s crypto capital," Acting Chair Pham stated, "We will work closely with SEC Chair Paul Atkins and Commissioner Hester Peirce to advance 'Project Crypto'. Providing clear regulation for the digital asset market now and promoting innovation will fulfill the government’s commitment to usher in the golden age of crypto." Officials stated that since January, the CFTC has held the first crypto CEO forum, rescinded outdated staff suggestions, and released new guidelines to enhance regulatory transparency for innovators and entrepreneurs in the U.S. and global crypto and digital asset space. The CFTC has discussed a pilot program for the digital asset market and participated as an observer in industry tokenization initiatives. Additionally, the CFTC recently completed a public comment period on two innovations in the crypto market—24/7 trading and perpetual derivatives. Perpetual derivatives have been trading on CFTC-registered designated contract markets (DCMs) since April, while 24/7 trading was implemented in May. BlockBeats previously reported that the SEC's Project Crypto initiative will enable U.S. financial markets to become on-chain, helping President Trump make the U.S. the 'world's crypto asset capital' and maintain the U.S.'s dominance in the crypto asset market.