The Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Michael Selig, announced that the United States is the global cryptocurrency capital and outlined a trend of shifting regulatory approaches from enforcement-led to regulatory clarity. He jointly announced with the U.S. Securities and Exchange Commission (SEC) the launch of the "Cryptocurrency Project Initiative," aimed at ending inter-agency disputes and establishing a joint framework, including clear standards for cryptocurrency asset classification. The CFTC will also issue guidance for non-custodial software developers and consider new rules for retail cryptocurrency trading. Selig praised President Trump’s support for cryptocurrencies as a core part of future finance and stated that the CFTC is taking action to maintain its jurisdiction over prediction markets.