According to FOX Business, the Trump administration plans to enhance the authority of the CFTC by granting it oversight of a substantial portion of the $3 trillion digital asset market.

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 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 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’s incoming administration has plans to hand over most of the crypto industry’s regulatory power to the Commodity Futures Trading Commission (CFTC).

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 U.S. Commodity Futures Trading Commission, a tiny regulator compared with the Securities and Exchange Commission, may emerge as the arbiter of crypto asset regulation in a second Trump administration,