Renowned for his pro-crypto stance during the election season, President Donald Trump is now taking calculated steps to elevate the U.S. cryptocurrency landscape.
This potential shift in regulatory authority could significantly reduce the influence of the Securities and Exchange Commission , marking a pivotal change in how the crypto sector is governed in the United States., 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.
With Republican majorities in Congress, this move aligns with a broader effort by Trump to curtail the SEC’s influence in the cryptocurrency sector, signaling a shift toward more balanced governance in the digital asset industry. Needless to say, granting the CFTC oversight of the spot markets for Bitcoin and Ethereum—representing nearly 70% of the global crypto market—would also extend its authority to the exchanges facilitating these trades.