US CFTC "Accelerating the transition to financial blockchain… Launching ‘Project Crypto’"

The Commodity Futures Trading Commission (CFTC) announced that it will launch the initiative 'Crypto Sprint' to accelerate the transition of the financial industry to blockchain.

According to The Block, a leading digital asset media outlet, on the 4th (local time), Caroline D. Pham, Acting Chair of the CFTC, stated in an official statement: "The CFTC will deliver on its promise to provide regulatory clarity and promote innovation in the digital asset market to usher in a golden era for digital assets, realizing President Donald Trump’s vision to make the US the global hub for digital assets."

She added that there are also plans to cooperate with the Securities and Exchange Commission (SEC) towards the common goal of advancing the digital asset industry in the US. Caroline D. Pham emphasized, "By working closely with the SEC, we will accomplish Project Crypto to advance the digital asset industry."

Based on the White House digital asset report, Project Crypto is a plan to modernize securities rules and regulations to facilitate the on-chain transition of the financial system. The SEC is expected to draft rules related to the distribution, custody, and trading of digital assets.