Former CFTC Chairman Chris Giancarlo has expressed strong support for the Commodity Futures Trading Commission (CFTC) taking on a larger role in regulating cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: BTC).
What Happened: “With adequate funding and under the right leadership, I think the CFTC could hit the ground running to begin regulating digital commodities on day one of Donald Trump‘s presidency,” Giancarlo told FOX Business on Tuesday.
He added that the CFTC’s lighter regulatory approach, compared to the SEC’s enforcement-heavy stance, would encourage innovation while protecting market integrity.
The CFTC currently oversees the $20 trillion U.S. derivatives market, which includes futures and options trading.
However, it lacks clear jurisdiction over cryptocurrency spot markets, where digital assets are bought and sold directly.
Under the Trump administration’s proposal, the CFTC would gain oversight of these markets and the …
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