The U.S. Commodity Futures Trading Commission (CFTC) plans to unify the regulation of spot and futures trading of cryptocurrencies. The initiative, called “Crypto Sprint,” is led by Acting Chairman Caroline Pham. The program will allow spot crypto contracts to be traded on approved futures exchanges.
Pham said, “Starting today, we invite all stakeholders to work with us on providing regulatory clarity on how to list spot crypto asset contracts on a Designated Contract Market (DCM), using our existing authority.”
Currently, platforms like Coinbase treat spot and futures trading separately from a regulatory standpoint. The Chicago Mercantile Exchange (CME) also operates under different licenses for its offerings.
Crypto Sprint program overview
The CFTC’s program aims to change this by allowing both types of trading within a unified, federally regulated framework. Perianne Boring, Founder of the Digital Chamber, a crypto advocacy group, said this move aligns with the dual-regulatory approach of the CLARITY Act, a broader crypto regulatory framework. The SEC has also issued guidelines for new crypto ETFs, requiring assets to trade under futures for about six months before being considered for approval.
The public comment period for the CFTC’s proposal is open until August 18. The feedback will be considered before finalizing the regulatory framework.
