The Trump administration is considering letting the CFTC take the lead in regulating digital assets

robot
Abstract generation in progress

Jinse Finance reported that, according to FOX Business, the incoming Trump administration hopes to expand the Commodity Futures Trading Commission (CFTC)'s power, granting it significant regulatory authority over a large part of the digital asset market. According to sources familiar with the thinking of the Trump team, as Trump takes office and the encryption industry's influence in Republican politics grows, the CFTC's responsibilities may soon expand to regulate the encryption spot market (such as BTC and Ethereum), considered as commodities, and to promote exchanges facilitating their trading. Core figures in the Trump team believe that relaxing regulations is necessary to stimulate innovation in the encryption business, including potentially revolutionary Blockchain technology, which can eliminate expensive intermediaries in commercial transactions. Former CFTC Chairman Chris Giancarlo told FOX Business, "With sufficient funding and the right leadership, I believe the CFTC can begin regulating digital commodities on the first day of President Trump's inauguration."

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)