Trump Administration Eyes CFTC for Crypto Regulation, Plans to Weaken SEC’s Role
The incoming Trump administration is reportedly considering a major overhaul of cryptocurrency regulation in the U.S., aiming to transfer significant authority from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). This potential shift would mark a notable departure from the SEC’s historically aggressive stance on digital assets.
According to reports from Fox Business, the Trump team plans to empower the CFTC to oversee cryptocurrency exchanges and spot markets for digital assets deemed commodities, such as Bitcoin and Ether. This move aligns with statements made by outgoing SEC Chair Gary Gensler, who has long advocated for Bitcoin’s classification as a commodity.
Gensler, known…
