Foreign media: The Trump administration is considering having the CFTC lead the regulation of digital assets

2024-11-27 07:58:40

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ChainCatcher news indicates that the incoming Trump administration hopes to expand the powers of the CFTC, granting it significant regulatory authority over a large portion of the digital asset market.

Sources say that with Trump's inauguration and the increasing influence of the crypto industry in Republican politics, the CFTC's responsibilities may soon expand to regulate the crypto spot market (such as Bitcoin and Ethereum) that are considered commodities, as well as the exchanges that facilitate their trading.

Key figures in the Trump team believe that regulatory relief is needed to stimulate innovation in the crypto business, including potentially transformative blockchain technology. Former CFTC Chairman Chris Giancarlo stated, "With adequate funding and the right leadership, I believe the CFTC can begin regulating digital commodities on the first day of Trump's presidency." (FOX Business)

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