U.S. Commodity Futures Trading Commission Acting Chairman Caroline Pham has taken further steps to push forward President Donald Trump’s crypto initiatives by removing outdated guidance regarding “actual delivery” of crypto commodities, which she indicated might hinder future progress.
“Removing old and unnecessarily complicated guidance that hinders the crypto sector and suppresses innovation aligns with the administration’s objectives for this year,” Pham stated in a Thursday announcement.
The guidance, established in 2020 during Trump’s initial term, aimed to clarify the definition of “actual delivery” of assets in crypto commodity transactions—an essential element under the Commodity Exchange Act. The law firm Steptoe had sought formal clarification from the CFTC regarding this term’s application to digital assets since 2016. However, the President’s Working Group report on the administration’s digital assets agenda earlier this year suggested that the CFTC should “consider enhancing prior guidance on ‘actual delivery’ of virtual assets.”
The CFTC noted in the withdrawal notice that it needed to discard the original document “to reevaluate such guidance in light of the advancements over the past 5 years in the methods deployed in the spot market for buying and selling virtual currencies.”
In recent weeks, Pham has consistently pushed for rapid changes in crypto policy at the agency, even as Trump’s nominee to take her position permanently, Mike Selig, is expected to be confirmed as early as next week.
Read More: The CFTC Just Defined What ‘Actual Delivery’ of Crypto Should Look Like
