President Trump wants to increase crypto management authority for the CFTC

President Donald Trump is planning to enhance the regulatory authority over cryptocurrency for the Commodity Futures Trading Commission (CFTC) by proposing the establishment of a Cryptocurrency Advisory Council. This council will coordinate with agencies such as the CFTC and SEC to shape policies related to the cryptocurrency market, creating a more favorable legal environment for the industry.

Trump has committed to establishing a "strategic Bitcoin reserve fund" to enhance the United States' leadership position in the cryptocurrency sector and simplify regulations surrounding cryptocurrency. This reflects his desire to revive the cryptocurrency industry, especially in light of the stringent control measures implemented under the Biden administration.

Many major companies in the industry, such as Coinbase, Ripple, and Kraken, are competing for positions on this council, hoping that their participation will help shape regulations that are beneficial for the future of cryptocurrency in the United States.