Alright, so here’s the latest from the CFTC (that’s the U.S. Commodities regulator, for the uninitiated). They’ve kicked off round two of their “crypto sprint,” this time focusing on, you guessed it, stakeholder engagement. Basically, they want to know what you, the crypto folks, think about their ideas. So, get ready to be heard!
Acting Chair Caroline D. Pham took to the podium on Thursday to announce that they’re looking for feedback from all the crypto players out there on how to better handle spot crypto trading. Her words:
"The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined or financed retail trading on a CFTC-registered exchange"
Translation: tell us how we can not mess this up.
And all of this comes as part of the CFTC’s ongoing quest to fulfill President Trump’s ambitious goal to "win on crypto." Yes, since nothing says "winning" like attempting to control the unruly digital currency landscape.
Together, the @SECGov’s Project Crypto and the @CFTC’s Crypto Sprint are coordinating to answer President @realDonaldTrump’s call to action for American leadership. We are going to win on crypto! 🇺🇸🫡 https://t.co/yi74rNCK16
— Caroline D. Pham (@CarolineDPham) August 21, 2025
Crypto’s Golden Age (According to Trump)
Trump, bless his heart, is convinced that the world of crypto is entering some kind of glorious new era. In fact, he’s all about it, claiming that the Trump Administration’s work is ushering in a new dawn for crypto. And, of course, it’s up to market participants (aka you and me, folks) to jump on the crypto gravy train and make sure we get our slice of the "Golden Age of innovation." So... no pressure.
CFTC Wants Your Thoughts
If you want to get involved and share your thoughts, you’ve got until October 20th to submit your feedback. That’s right, you have a solid month to tell the CFTC what you think about how they’re handling crypto. So, get your opinions ready!
Now, the CFTC is no stranger to this whole "crypto sprint" thing. Earlier this month, they kicked off their first sprint, which was all about figuring out how they could allow spot crypto asset contracts to be traded on CFTC-registered futures exchanges. This came right after the Trump White House dropped a 166-page report outlining policy recommendations for regulating crypto in the U.S. Because who doesn’t love a good, long read about crypto regulation, am I right?
The President’s Crypto Task Force
Now, here’s where it gets a bit technical. The President’s Working Group on Digital Assets tossed the CFTC 18 recommendations. Out of those, two directly concern the CFTC, like how the heck cryptocurrencies are considered commodities, and how decentralized finance (DeFi) firms can play by the registration rules. Oh, and don’t forget, there’s also the issue of how blockchain-based derivatives could fit into the whole regulatory mix.
What’s the Deal with Brian Quintenz?
Trump’s pick for CFTC chair, Brian Quintenz, is... well, still waiting for his confirmation. The White House hit the pause button on his Senate vote in late July. Crypto groups are not happy about this, calling for his “prompt confirmation” because, apparently, a permanent chair is crucial for the CFTC to get its crypto game together.
Right now, the CFTC is running on fumes with just two commissioners: Pham and Kristin N. Johnson (who’s expected to peace out soon). This means things are a little shaky, and crypto advocates are praying that someone, anyone, can step in and steer the ship.
TL;DR
The CFTC is doing its best to regulate the crypto industry, but they need your feedback (just like that one friend who can’t make a decision without asking everyone for their opinion). There are plenty of new regulations coming down the pipeline, but the whole thing is a bit of a mess right now. Hang tight, holders; crypto regulation is still a work in progress.
Kristian Koch
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