CFTC Announces "Crypto Sprint" Program to Accelerate Cryptocurrency Development in the United States.
Caroline Pham, Acting Chair of the Commodity Futures Trading Commission (CFTC), along with SEC Commissioners Paul Atkins and Hester Peirce, will collaborate to promote the SEC's Project Crypto to realize the "Golden Age of Cryptocurrency" as committed by President Trump.
- CFTC launches Crypto Sprint program to support cryptocurrency development.
- Close collaboration between CFTC and SEC in Project Crypto.
- Aiming towards the "Golden Age of Cryptocurrency" proposed by President Trump.
What are CFTC and the Crypto Sprint Program?
Crypto Sprint is a new CFTC initiative aimed at accelerating the development of policies and technologies related to cryptocurrency in the United States. This is a crucial activity in promoting the safe and transparent development of the digital asset market under strict regulatory oversight.
The program focuses on building legal frameworks, facilitating technological innovation, and enhancing cooperation between regulatory organizations in the cryptocurrency field. Crypto Sprint aims to make the United States a world-leading cryptocurrency center.
Why is CFTC Collaborating with SEC in Project Crypto?
CFTC and SEC are two key financial regulatory agencies with crucial roles in overseeing the cryptocurrency market and derivative products. The collaboration between Caroline Pham (CFTC) and SEC Commissioners Paul Atkins and Hester Peirce in Project Crypto helps maximize knowledge and resources to create a more comprehensive and effective legal framework.
This cooperation marks an important step as these agencies work together to build a transparent and sustainable development environment for the U.S. cryptocurrency market, bringing long-term benefits to users and investors.
"We are committed to creating a legal ecosystem that supports innovation while also protecting investors and ensuring market integrity."
Caroline Pham, Acting CFTC Chair, August 2023
Importance of the "Golden Age of Cryptocurrency" According to President Trump
The concept of the "Golden Age of Cryptocurrency" is oriented towards developing cryptocurrency as a future financial platform, creating momentum for economic and technological growth for the nation. The Project Crypto and Crypto Sprint program are seen as stepping stones to achieving this goal.
Enhancing the legal framework and support resources will help cryptocurrency develop more robustly, expand applications in financial, commercial, and Blockchain technology fields, creating numerous business opportunities and awakening creative potential in the global market.
Frequently Asked Questions
What is Crypto Sprint?
Crypto Sprint is a program initiated by CFTC to accelerate the development and refinement of the legal framework for the cryptocurrency market in the United States.
Why does CFTC need to collaborate with SEC?
CFTC and SEC jointly supervise different aspects of cryptocurrency; their collaboration helps create more consistent and effective policies.
What are the objectives of Project Crypto?
Project Crypto aims to build a safe and transparent cryptocurrency ecosystem, promoting innovation and protecting investors.
What is the "Golden Age of Cryptocurrency"?
This is a breakthrough development phase of cryptocurrency, enhancing global applications and status according to President Trump's orientation.
Which SEC commissioners are participating in the project?
Paul Atkins and Hester Peirce are the SEC commissioners collaborating with the Acting CFTC Chair to develop Project Crypto.
