Under the proposed shift, the CFTC would oversee spot markets for digital assets classified as commodities, as well as regulate crypto exchanges

Donald Trump’s incoming administration has plans to hand over most of the crypto industry’s regulatory power to the Commodity Futures Trading Commission (CFTC). This is a direct move to strip the Securities and Exchange Commission (SEC) of its grip on the $3 trillion crypto market—a market that’s been stuck in a regulatory disaster for years.

The Trump administration plans to grant the CFTC authority over cryptocurrency spot markets, particularly Bitcoin and Ethereum, marking a shift away from SEC oversight

The incoming Trump administration wants to expand the power of the CFTC by granting it oversight of a significant portion of the $3 trillion digital asset market.

Donald Trump plans to expand the CFTC’s role in overseeing digital assets, while curbing the SEC’s control to reverse Biden-era regulations.

The Trump government is reportedly looking at the possibility of giving the CFTC the authority to regulate the spot market for Bitcoin and other cryptocurrencies, potentially providing more clarity on which regulator should oversee the industry.

The US Commodity Futures Trading Commission, the underfunded regulator overshadowed by the SEC, has a path to prominence if the incoming Trump administration revamps crypto policy and installs an industry-leaning chair.

After funneling hefty sums into the 2024 elections, the crypto industry is poised to wield considerable influence over the incoming government. The industry spent more than $180 million on campaigns this election cycle,