ChainCatcher news, the incoming Trump administration hopes to expand the CFTC's powers, granting it significant regulatory authority over a large portion of the digital asset market.
Sources say that with Trump's inauguration and the growing influence of the crypto industry in Republican politics, the CFTC's responsibilities may soon expand to regulating the crypto spot market (such as Bitcoin and Ethereum) that are viewed as 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 ample funding and the right leadership, I believe the CFTC can begin regulating digital commodities on the first day of Trump's presidency." (FOX Business)
