Cryptocurrency in the US: Donald Trump wants to give power to the CFTC and dilute the power of the SEC
To the CFTC! Regulatory treatment of the industry cryptocurrencies made in US is changing. And for good reason, the arrival Donald Trump in power is turning the tables on this recurring issue from a now more favorable angle. for this reason The White House is actively seeking a crypto advisor to support this ongoing change. And this could mean a change in the jurisdictional aspect of this issue with a shift in their management under liability Commodity Futures Trading Commission (CFTC). Fashion goods engaged?
- The Trump administration is considering moving cryptocurrency regulation from the SEC to the CFTC, a potential regulatory paradigm shift.
- The CFTC, while smaller than the SEC, has been seen as a pro-innovation player that could change the crypto landscape in the United States.
Crypto regulation: the jurisdictional war in the United States
State cryptocurrencies is a never-ending debate in the United States. The last until then firmly enforced by the SECwhich decided to impose on them its universal framework of financial securities. With the main use of force impose fines on its domestic actors.
However, there is another possibility with Commodity Futures Trading Commission (CFTC). But in this case it applies the status of a commodity (or raw material) that Bitcoin has already acquired…since 2015!
AND the battle of regulatory jurisdictions which regularly resurfaces, in the face of management some specific cryptographic points. With the latest example, status valid for Ethereum faces approval of its spot ETFs… finally reluctantly confirmed by the SEC.
The situation is very clear unfavorable for crypto-innovation in the territory of the United States of America. With the main problem identified by the Trump administration, current SEC chief Gary Gensler is set to leave the office. And as a visible answer, a crypto fee transfer to the CFTC.
Get out of the SEC, welcome to the CFTC!
Information has just been forwarded by the channel Fox Businessin an interview with former president of the CFTCChris Giancarlo. The latter is generally expected to occupy the brand new position of Chief Cryptocurrency Representative in the White Houseinternally nicknamed the “Crypto Tsar”.
Possible in the question support for some cryptographic specifics entity dedicated to commodities. And that could relate more precisely to regulation spot markets for cryptocurrencies and their exchanges.
“With adequate funding and the right leadership, I believe the CFTC could get to work on beginning regulation of digital products on the first day of Donald Trump’s presidency. »
Chris Giancarlo
In fact, the CFTC is much smaller body than SEC. Whether it concerns his budget (approx 700 million dollars) four times less important or its employees (700) almost 8 times less. But in the end, it could help the desire to “slim the mammoth”, as claimed by Elon Muskfrom his brand new seat as head of the DOGE division in the government!
Support from cryptocurrencies The CFTC is promised as decisive turning point for the sector. Because the desire of this body has always been to support innovation by offering it a suitable framework. However, we must not forget that almost 50% of his enforcement actions were filed against crypto companies in 2024.
