CFTC Chair Says Agency is Ready to Oversee Entire Crypto Market
Cointelegraph
CFTC Chair Michael Selig asserts the agency is prepared to regulate the entire $3 trillion crypto industry amid ongoing legislative discussions.Summary
CFTC Chair Michael Selig has stated that the Commodity Futures Trading Commission is prepared to oversee the $3 trillion cryptocurrency market, even as Congress has yet to pass comprehensive market structure legislation. Selig emphasized the agency's readiness to take responsibility for digital assets and reiterated the CFTC's claim of exclusive jurisdiction over prediction markets, which the agency classifies as swaps rather than gaming. While the SEC is expected to maintain authority over assets deemed securities, Selig's leadership signals a potential shift toward more collaborative regulation and a softening of enforcement compared to previous administrations.
(Source：Cointelegraph)