U.S. CFTC Initiates Second Phase of Cryptocurrency Sprint, Aiming for Full Implementation of Trump Administration's Digital Asset Report Recommendations

On August 21, Caroline Pham, the acting chair of the U.S. Commodity Futures Trading Commission (CFTC), announced the initiation of the second phase of the Cryptocurrency Sprint Initiative. This move marks a significant step towards implementing all the recommendations from the digital asset market report drafted by President Trump's task force. The initiative follows the early August launch of the designated contract markets (DCM) listing initiative for cryptocurrency spot trading. Acting Chair Pham emphasized that this effort aligns with the Trump administration's goal of immediate federal-level realization of cryptocurrency transactions.