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Chris Giancarlo, former chairman of the US Commodity Futures Trading Commission (CFTC), once promoted the legalization of Bitcoin futures and was hailed by the industry as the "father of cryptocurrency". Giancarlo has repeatedly stated publicly that the CFTC is the ideal choice for managing the cryptocurrency market, especially in the context where Bitcoin and Ethereum are seen as commodities. The Trump administration's plan is in line with Giancarlo's advocacy, providing policy support for the CFTC to play a greater role in regulating digital assets. However, the manpower and budget resources of CFTC are relatively limited compared to SEC. In 2024, the CFTC's operating budget is $400 million, which is only one sixth of the SEC's, and its number of employees is much lower than the SEC's. In such a situation, whether the CFTC can handle the expanded scope of responsibilities remains an important practical issue. @fifgb
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