Trump Administration Taps CFTC for Top Crypto Role in Major Overhaul of Digital Asset Oversight
- The Trump administration is proposing to expand the Commodity Futures Trading Commission’s (CFTC) jurisdiction to include spot markets for crypto assets like Bitcoin and Ethereum.
- While the crypto industry supports the shift for regulatory clarity, the CFTC faces significant resource challenges, with a US$400M budget and 700 staff, compared to the SEC’s US$2.4B budget and 5,300 employees.
- Former CFTC Chairman Chris Giancarlo, known as “Crypto Dad”, is a candidate for the new White House Crypto Czar role,
- The CFTC could soon have jurisdiction over the cryptocurrency market, as the Trump administration is proposing a shift in crypto oversight.
The CFTC, currently responsible for regulating the US$20T…
