The Donald Trump administration wants to place certain cryptocurrencies under the jurisdiction of the CFTC. This is reported by Fox Business.

According to Fox sources, if the decision is made, all digital assets that are deemed commodities will fall under the Commission's control. This list includes Bitcoin and Ethereum, as well as the markets where they are traded.

In 2022, SEC Chairman Gary Gensler noted that the CFTC needs greater control over some digital assets, although in his opinion, most cryptocurrencies are still securities. In 2023, he stated that he supports the transition of Bitcoin to the jurisdiction of the 'sister' Commission.

Currently, no U.S. government agency has clear authority over spot transactions involving cryptocurrencies. Both the SEC and the CFTC are involved in regulation, leading to conflicts. Transferring control over specific assets to the Commodity Futures Trading Commission partially resolves this issue.