The U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) are jointly developing a regulatory framework for cryptocurrencies, with Bitcoin as a primary focus. This coordinated effort follows White House recommendations seeking to enhance market clarity and promote responsible innovation in digital assets.
The initiative stems from 18 specific directives issued by the White House’s President’s Working Group, which called for CFTC amendments covering blockchain-based derivatives. Both agencies have been instructed to design regulatory sandboxes that foster innovation while enhancing market transparency.
Brian Quintenz, CFTC commissioner nominee under former President Trump and ex-global policy lead at Andreessen Horowitz’s crypto arm, will spearhead the CFTC’s cryptocurrency initiatives. The agency is proactively implementing the White House recommendations with dual emphasis on investor protections and market development.
The CFTC-SEC collaboration includes joint rulemaking procedures and the establishment of comprehensive regulatory structures for digital currencies.