The Commodity Futures Trading Commission (CFTC) has initiated the third phase of its 'crypto sprint', a process aimed at updating and implementing recommendations from the President's Working Group on Digital Asset Markets. This phase expands its focus from solely spot crypto trading to custody, leveraged retail trading, and consumer protections. Acting CFTC chair Caroline Pham emphasized that this effort aims to address the fragmentation across state regulations, enhancing clarity and creating a unified federal framework for digital asset markets. The sprint, part of a four-phase initiative that began on August 1, encourages stakeholder feedback with a deadline of October 20, aiming to bolster protections for retail investors and establish regulatory standards in the evolving digital currency landscape. Industry experts suggest this shift may position the U.S. as a leader in setting global regulatory standards for digital assets, which could influence other nations to follow suit.

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