Trump admin eyes CFTC to lead digital asset regulation

Published On Nov 26, 2024, 3:57 PM

The incoming Trump administration plans to empower the Commodity Futures Trading Commission (CFTC) with oversight of the digital asset market, expanding its role similar to that of the Securities and Exchange Commission (SEC). This initiative reflects a movement towards lighter regulatory measures to encourage innovation in the crypto sector, particularly for cryptocurrencies like Bitcoin and Ethereum. Trump's administration views regulation through the CFTC as a means to provide much-needed clarity to the currently ambiguous regulatory landscape for digital commodities. Former CFTC Chairman Chris Giancarlo is set to play a significant role in this shift, advocating for the CFTC's expanded jurisdiction over digital assets.