Crypto assault takes off: CFTC and SEC band together, triggering a shift in the financial landscape

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have joined forces to revolutionise the digital asset landscape in the United States. This collaboration, known as the "Crypto Sprint" initiative, aims to legitimise the use of blockchain technologies for the tokenization of financial assets and on-chain liquidation, potentially transforming the global financial landscape.

The CFTC, under the leadership of Acting Chairman Caroline Pham, launched the "Crypto Sprint" initiative. The goal is to establish a coherent, modern, and functional regulatory framework for the crypto ecosystem in the US. The initiative includes a series of concrete actions aimed at accelerating the implementation of clear and technology-adapted norms.

One of the key objectives of the "Crypto Sprint" is to attract capital, talent, and strengthen the US's technological leadership in the digital asset space. The initiative seeks to eliminate regulatory fragmentation and avoid conflicts between agencies by establishing harmonized criteria on which digital assets should be classified.

The CFTC is reviewing and removing outdated rules to adapt to new realities such as 24/7 trading, perpetual contracts, or blockchain-based settlement. Instruments such as bonds, stocks, or derivatives could be issued and traded directly on blockchain networks, potentially redefining global financial architecture.

The Presidential Working Group on Digital Assets report lays the groundwork for the CFTC's "Crypto Sprint" and the SEC's "Project Crypto," proposing concrete recommendations to help the country achieve leadership in the crypto space. The CFTC is also interested in exploring spot crypto asset contract trading on platforms regulated by the agency.

The CFTC and SEC's regulatory efforts are part of a broader strategic plan by the U.S. government to consolidate its leadership in the crypto universe. The revolution in finance is already underway, and the United States wants to be its main protagonist, with specific actions aimed at adapting the legal framework to modern times.

The collaboration between the CFTC and SEC represents a deep change in how the United States approaches the regulation of digital assets, leaving behind fragmentation and moving towards a coordinated framework. The joint regulatory "sandbox" between the CFTC and SEC is contemplated, allowing startups and companies to test new business models under flexible supervision.

The report emphasises financial education and digital literacy as fundamental pillars for the safe and sustainable adoption of the digital ecosystem. As the "Crypto Sprint" continues, the US government is committed to making the United States a global leader in the crypto ecosystem, ensuring a secure and innovative future for digital assets.