The Commodity Futures Trading Commission (CFTC) recently announced the launch of the "Crypto Sprint" initiative to implement the government's latest recommendations related to Crypto Assets. CFTC Acting Chair Caroline Pham stated that the agency will closely collaborate with the SEC to jointly advance initiatives for crypto projects.

This series of actions stems from the recommendations put forward by the government's digital asset market working group, which was established by executive order. The working group made 18 recommendations to the CFTC, two of which are directly related to the CFTC's responsibilities.

The primary mission of the CFTC is to advance several initiatives, including establishing guidelines on how to classify Crypto Assets as commodities, clarifying registration requirements in decentralized finance, and providing crypto-related guidance for entities under CFTC regulation. Additionally, the CFTC needs to consider how to adjust existing rules to accommodate derivatives based on blockchain technology.

It is worth noting that the recommendations specifically emphasize the collaboration between the CFTC and the SEC. Both agencies are urged to jointly develop rules and fully utilize their existing regulatory powers to provide comprehensive regulatory transparency for the crypto industry. At the same time, both agencies are also advised to create a regulatory sandbox and explore how registrants can operate through a single user interface.

This series of measures indicates that U.S. regulators are actively responding to the rapid development of the digital asset market, attempting to seek a balance between promoting innovation and protecting investors. With the launch of the "Crypto Sprint" initiative, the industry generally expects to see a clearer and more comprehensive regulatory framework for crypto assets.