Acting CFTC Chairman Caroline Pham Announces "Crypto Asset Deployment" to Make the US the World's Crypto Asset Capital.
The Commodity Futures Trading Commission (CFTC) has officially launched a comprehensive campaign to establish the United States as a digital asset powerhouse. Acting Chairman Caroline D. Pham revealed on August 1st that the agency will begin a "crypto asset deployment" to implement policy guidelines outlined in the Presidential Working Group on Digital Asset Markets report.
Speaking from Washington D.C., Pham emphasized CFTC's leadership role in coordinating digital asset regulations with other federal agencies. The goal is to establish a structured foundation for innovation in the US crypto asset industry, while realizing President Trump's vision of making America the world's crypto asset capital.
"CFTC is not wasting time implementing President Trump's vision. We will work closely with SEC Chairman Paul Atkins and Commissioner Hester Peirce to achieve the Crypto Project," Pham stated. She affirmed that providing regulatory clarity and promoting innovation in the digital asset market will usher in the "Golden Age of Crypto Assets."
Crypto Project and Inter-Agency Coordination
Following recommendations from the Presidential Working Group on Digital Asset Markets report, the SEC has launched the "Crypto Project" alongside CFTC's efforts. This initiative aims to modernize digital asset regulations, including clearly defining what constitutes a security and creating specific guidelines for distribution and trading.
CFTC has taken several important preparatory steps since the beginning of the year to build a foundation for this new phase. The agency has organized the first Crypto Asset CEO Forum, recalled outdated staff guidance, and issued updated regulatory guidelines to support domestic and international crypto asset entrepreneurs.
Modernization efforts also include initiating discussions about a pilot program for digital asset markets and confirming an observer role in the industry's token encoding efforts. CFTC has completed a public consultation on perpetual derivatives and 24/7 trading – two prominent features of the crypto asset market.
The results of these efforts have begun to emerge. Perpetual derivatives have been operating on designated, CFTC-registered contract markets since April, while 24/7 trading officially began in May.
