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Former officials and industry urge CFTC role for spot digital commodities; lawmakers weigh jurisdiction
Summary
Former CFTC chairmen and witnesses told the House Agriculture Committee that the CFTC is the most prepared federal regulator to supervise digital commodity markets, including discussions about extending oversight to spot platforms.
WASHINGTON — Multiple witnesses at a House Agriculture hearing argued that the Commodity Futures Trading Commission is the most experienced federal regulator to supervise digital commodity markets and urged Congress to consider clearer jurisdiction over spot crypto markets.
Former CFTC Chairman Christopher Giancarlo told lawmakers the agency “has been looking at digital assets going back to at least 2014,” and noted the agency declared Bitcoin a commodity in 2015 and subsequently regulated…
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