SEC Chair Gary Gensler Backs Giving CFTC Bitcoin Oversight

SEC Chair Gary Gensler Backs Giving CFTC Bitcoin Oversight

He supports handing the Commodity Futures Trading Commission (CFTC) the power to “oversee and regulate crypto nonsecurity tokens and related intermediaries.”

According to Gensler, he would throw his weight behind the U.S. Congress to hand over more regulatory power over non-security assets to the CFTC. 

The Senate Agriculture Committee is already making significant moves to grant the CFTC regulatory oversight over the two-largest cryptocurrencies, Bitcoin and Ethereum.

While Gensler has previously said Bitcoin is a commodity, he’s kept quiet about the status of Ethereum.

New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog –
to put the Commodity Futures Trading Commission (CFTC) at the helm of regulating all cryptocurrencies classified as commodities.