CFTC Launches Second ‘Crypto Sprint’ to Strengthen Market Oversight

The U.S. Commodity Futures Trading Commission or CFTC has kicked off its second “crypto sprint,” this time prioritizing public engagement as it works to implement recommendations from the President’s Working Group on Digital Asset Markets. 

Acting Chair Caroline D. Pham announced on Thursday that the agency is seeking input from crypto industry stakeholders to better shape its regulatory approach.

“The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined, or financed retail trading on a CFTC-registered exchange,” Pham said. She added that the initiative reflects the Trump administration’s wider pledge to “win on crypto,” a policy shift the White House has described as the beginning of a “Golden Age of innovation.”

The public has until October 20 to submit feedback and suggestions.

Recommendations from the President’s Working Group

The latest push follows the release of an extensive 166-page report from the White House earlier this month, outlining a roadmap for crypto regulation. The President’s Working Group delivered 18 recommendations to the CFTC, two of which fall squarely within its remit.

The first calls for clear guidance on when cryptocurrencies can be classified as commodities, how decentralized finance firms can comply with registration requirements, and which crypto activities regulated entities may pursue. The second urges the agency to explore rule changes that would accommodate blockchain-based derivatives.

The other 16 recommendations involve collaboration with the Treasury Department, the Securities and Exchange Commission (SEC), and other regulators. Earlier this month, the agency also launched its first crypto sprint, aimed at exploring the possibility of enabling spot crypto contracts to trade on CFTC-registered futures exchanges.

Leadership Uncertainty at the CFTC

While the CFTC is moving ahead with its crypto agenda, questions remain over its leadership. President Trump’s nominee for the chair, Brian Quintenz, is still awaiting Senate confirmation after the White House delayed a vote in late July. Several crypto advocacy groups have since urged lawmakers to confirm Quintenz promptly, warning that the agency needs stable leadership to execute its ambitious goals.

Currently, the CFTC is operating with just two commissioners — Pham and Kristin N. Johnson, who is expected to step down later this year. The vacancies follow a string of resignations earlier in 2025, including former chair Rostin Behnam.

The lack of leadership has raised concerns among market participants, who argue that strong oversight is essential as the U.S. positions itself in the evolving digital asset landscape.