CFTC Seeks Public Feedback on Crypto Rules
The CFTC announced Thursday that it is opening a public consultation on how best to regulate spot crypto trading and other retail activities.
Acting Chair Caroline D. Pham said stakeholder input will guide the agency on issues such as:
- Leveraged, margined, or financed trading on CFTC-registered exchanges.
- How to address risks in retail crypto activity.
“The public feedback will assist the CFTC in carefully considering relevant issues,” Pham noted, stressing the importance of broad industry engagement.
📅 Deadline: Market participants have until October 20 to submit comments.
Trump Administration Pushes ‘Golden Age of Crypto’
The initiative is part of efforts to deliver on President Trump’s pledge to make the U.S. a global leader in crypto innovation.
“The Trump Administration has ushered in a new dawn for crypto,” Pham said, calling this moment the Golden Age of innovation.
Earlier this month, the CFTC wrapped up its first crypto sprint, which examined whether spot crypto asset contracts should be enabled on futures exchanges.
The sprint followed a 166-page White House report on digital asset markets, outlining a coordinated regulatory vision.
Recommendations from the President’s Working Group
The President’s Working Group on Digital Asset Markets delivered 18 recommendations, including:
- For the CFTC:
- Provide clear guidance on how crypto assets should be treated as commodities.
- Explore updates to derivatives rules to account for blockchain-based products.
- For other regulators (SEC, Treasury, etc.):
- Coordinate on a unified digital asset rulebook.
In a joint statement, the CFTC and SEC pledged to “work closely” and leverage existing authority to bring regulatory clarity.
Also Read: Illinois Governor Slams Trump’s “Crypto Bros” While Rolling Out Tough New Laws
Leadership in Flux at the CFTC
The agency’s direction remains uncertain amid leadership changes.
- Brian Quintenz, Trump’s nominee for permanent CFTC chair, is awaiting Senate confirmation after a White House delay.
- Crypto advocacy groups have urged lawmakers to fast-track his confirmation, calling it “critical” for advancing U.S. crypto rules.
- Currently, the CFTC operates with only two commissioners: Caroline Pham and Kristin Johnson, who is expected to depart later this year.
- The agency has seen multiple resignations since Trump took office, including former Chair Rostin Behnam in January.
⚡ Bottom Line
The CFTC’s second crypto sprint highlights the Trump administration’s commitment to reshaping U.S. digital asset regulation. But with leadership uncertainty and only two commissioners left, progress may hinge on whether the Senate confirms a permanent CFTC chair to guide the future of crypto oversight in America.
