The Trump administration granted the Commodity Futures Trading Commission (CFTC) regulatory authority over digital assets such as Bitcoin and Ethereum.

The CFTC's budget is only one-fifth that of the Securities and Exchange Commission (SEC), which somewhat limits its ability to fully exercise its regulatory powers.

Former CFTC Chairman Giancarlo advocated for the CFTC to take a leading role in cryptocurrency regulation and mentioned the agency's past dealings and experience in digital assets.