Foreign media: The Trump administration is considering letting the CFTC take the lead in digital asset regulation
The incoming Trump administration hopes to expand the powers of the CFTC, granting it a large portion of regulatory authority over digital asset markets. With Trump taking office and the crypto industry's growing influence in Republican politics, the CFTC's responsibilities may soon expand to regulate crypto spot markets that are considered commodities, such as Bitcoin and Ethereum, sources said and the exchanges that facilitate their trading.
Central figures in Trump’s team believe that deregulation is needed to spur innovation in crypto businesses, including potentially transformative Blockchain technology. “With adequate funding and the right leadership, I think the CFTC can begin regulating digital commodities on day one of the Trump presidency,” said former CFTC Chairman Chris Giancarlo.
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