Cryptocurrency

Donald Trump

According to breaking news, the Donald Trump administration is considering giving the regulation of the cryptocurrency sector to the CFTC instead of the SEC. The CFTC is known for its more lenient approach to cryptocurrencies. 
The incoming Trump administration is reportedly planning to expand the regulatory authority of the Commodity Futures Trading Commission (CFTC) to oversee a significant portion of the $3 trillion cryptocurrency market, according to sources familiar with the matter. 
The move would be part of a broader effort by President-elect Donald Trump and the Republican-led Congress to reduce the Securities and Exchange Commission’s (SEC) influence over the cryptocurrency industry. Under President Biden and SEC Chairman Gary Gensler, the SEC has aggressively pursued regulatory action against the crypto space, which many in the industry have criticized for stifling innovation. 
Often considered the SEC’s “little brother,” the CFTC currently oversees the $20 trillion U.S. derivatives market, including commodities like gold and oil. Unlike the SEC, which primarily regulates securities markets that concern retail investors, the CFTC’s jurisdiction focuses on institutional markets, giving it a reputation as a lighter-touch regulator. 
Under the Trump administration's proposed plan, the CFTC's role could expand to include regulating spot markets for digital assets classified as commodities, such as Bitcoin and Ethereum, and the exchanges that facilitate their trading. 
“With adequate funding and under the right leadership, I think the CFTC could be on the job to start regulating digital commodities on day one of Donald Trump’s presidency,” said former CFTC Chairman Chris Giancarlo, known as the “Crypto Dad” for his advocacy of cryptocurrencies. 
The proposed change would address the regulatory uncertainty that has plagued the crypto industry, particularly in defining whether digital assets should be classified as securities or commodities. This uncertainty has led both the SEC and CFTC to regulate the industry primarily through enforcement actions, often causing friction with the crypto community. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-another-good-news-for-the-cryptocurrency-industry-from-the-donald-trump-administration-the-secs-dominance-may-be-ending/">BREAKING: Another Good News for the Cryptocurrency Industry from the Donald Trump Administration – The SEC’s Dominance May Be Ending</a>

BREAKING: Another Good News for the Cryptocurrency Industry from the Donald Trump Administration – The SEC’s Dominance May Be Ending

Bitcoin Sistemi EN

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