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ARTICLE · 16 DECEMBER 2025

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CFTC Issues Guidance On Tokenized Collateral And Other Crypto Sprint Developments

Davis Wright Tremaine LLP
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Guidance on tokenized assets and pilot program using tokenized collateral for derivatives expands the adoption of digital assets in U.S. financial markets as "a significant step forward" to help make America...

United StatesTechnology
Elizabeth Lan Davis
Elizabeth Lan Davis
Stephen T. Gannon
Stephen T. Gannon

Guidance on tokenized assets and pilot program using tokenized collateral for derivatives expands the adoption of digital assets in U.S. financial markets as "a significant step forward" to help make America the "crypto capital of the world"

In furtherance of its Crypto Sprint initiative and its implementation of the recommendations in the White House digital asset report ("White House Report") released over the summer, on December 8, 2025, the CFTC issued new guidance on tokenized collateral and announced the launch of a digital assets pilot program for certain digital assets (including BTC, ETH, and USDC) to be used as collateral in derivatives markets. The CFTC also withdrew an earlier staff advisory on accepting virtual currencies as collateral as outdated and irrelevant. These actions come on the heels of last week's announcement that a CFTC-registered exchange would be permitted to list leveraged spot crypto.

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