Giving the CFTC regulatory authority over the spot market for bitcoin and ethereum (which account for up to 70% of the global crypto market) and possibly other tokens considered digital goods would give it the power to regulate the exchanges on which these assets are traded. The move, if implemented, would mark a significant step toward bringing regulatory clarity to companies and individuals involved in trading the two largest cryptocurrencies by market capitalization, as no regulatory body currently has clear jurisdiction over these spot market transactions.
