CFTC Could Oversee Crypto in US

The potential move to give the Commodity Futures Trading Commission (CFTC) control over the cryptocurrency industry in the White House under the Donald Trump administration is being considered, according to a report from Fox Business.

This change would mean that the CFTC would now be responsible for regulating the spot markets of digital commodities like Bitcoin and Ethereum, as well as the exchanges that offer them. This follows the CFTC already overseeing Bitcoin and Ether options and futures.

However, while the digital assets listed by US exchanges are not classified as securities, the Securities and Exchange Commission (SEC) has taken legal action against some tokens for not being registered securities. This has led to the SEC pursuing lawsuits against Coinbase, Binance, and Kraken for offering unregistered securities.

Although the SEC is primarily in charge of regulating the securities industry in the US, the CFTC has a lower budget and resources in comparison. The SEC received a budget of $3 billion in 2024, while the CFTC received $706 million. In addition, the SEC has a much larger staff of 5,300, while the CFTC has about 700.