Donald Trump Administration Will Increase CFTC Power Over Crypto Industry
Key Points:
- The CFTC is poised for a leadership change, with candidates being considered to replace Rostin Behnam as chair under the Donald Trump administration.
- The new chair could expand the CFTC’s role in overseeing major cryptocurrencies like Bitcoin and Ether.
- Despite potential jurisdictional growth, the CFTC faces budgetary constraints, operating with significantly fewer resources compared to the SEC.
The US Commodity Futures Trading Commission, an agency often overshadowed by its larger sibling, the Securities and Exchange Commission, could take centre stage with a new chair set to lead the agency under the Donald Trump administration.
Read more: President-elect Donald Trump Is Now Considering a Crypto Role in White House
CFTC Leadership Change Under the Donald Trump Administration
According to Bloomberg, speculation focuses on candidates with prior involvement in the cryptocurrency market. Top contenders to take over from the current chair, Rostin Behnam, reportedly include Republican commissioners Summer Mersinger and Caroline Pham.
Other names floated include Joshua Sterling, Jill Sommers, and Neal Kumar, who have all worked previously for the CFTC and have digital asset industry connections.
Budget Constraints Pose Challenge to C FTC’s Growing Role
Under the Donald Trump administration, the CFTC’s purview could balloon to include the likes of Bitcoin and Ether, making it a leading regulator of the $3 trillion crypto market, whereas the SEC has taken a far more aggressive tack.
The CFTC will become a primary crypto regulator only if legislation goes that way, but it still faces strained resources. With the SEC having seven times the number and size of the CFTC, there are doubts as to whether the expanded mandate will come with expanded resources.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
Donald Trump Administration Will Increase CFTC Power Over Crypto Industry
Key Points:
- The CFTC is poised for a leadership change, with candidates being considered to replace Rostin Behnam as chair under the Donald Trump administration.
- The new chair could expand the CFTC’s role in overseeing major cryptocurrencies like Bitcoin and Ether.
- Despite potential jurisdictional growth, the CFTC faces budgetary constraints, operating with significantly fewer resources compared to the SEC.
The US Commodity Futures Trading Commission, an agency often overshadowed by its larger sibling, the Securities and Exchange Commission, could take centre stage with a new chair set to lead the agency under the Donald Trump administration.
Read more: President-elect Donald Trump Is Now Considering a Crypto Role in White House
CFTC Leadership Change Under the Donald Trump Administration
According to Bloomberg, speculation focuses on candidates with prior involvement in the cryptocurrency market. Top contenders to take over from the current chair, Rostin Behnam, reportedly include Republican commissioners Summer Mersinger and Caroline Pham.
Other names floated include Joshua Sterling, Jill Sommers, and Neal Kumar, who have all worked previously for the CFTC and have digital asset industry connections.
Budget Constraints Pose Challenge to C FTC’s Growing Role
Under the Donald Trump administration, the CFTC’s purview could balloon to include the likes of Bitcoin and Ether, making it a leading regulator of the $3 trillion crypto market, whereas the SEC has taken a far more aggressive tack.
The CFTC will become a primary crypto regulator only if legislation goes that way, but it still faces strained resources. With the SEC having seven times the number and size of the CFTC, there are doubts as to whether the expanded mandate will come with expanded resources.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Latest
Last Call for BlockDAG’s BULLRUN100: Double Your Gains Today as Hedera & Solana Climb
Why Crypto Analysts Rate BTFD Presale, Goatseus Maximus, and Peanut the Squirrel as the Best Meme Coins to Buy This Week
Press Release
Last Call for BlockDAG’s BULLRUN100: Double Your Gains Today as Hedera & Solana Climb
Why Crypto Analysts Rate BTFD Presale, Goatseus Maximus, and Peanut the Squirrel as the Best Meme Coins to Buy This Week
