U.S. CFTC Chairman: Regulating the cryptocurrency spot market is a significant step that will expand the CFTC's regulatory authority

ChainCatcher News, CFTC Chairman Rostin Behnam stated, "Regulating the crypto spot market is a big step for us," and is currently continuing to push for the CFTC to expand its regulatory authority in the cryptocurrency space. He also noted that unlike traditional commodity markets, which are primarily institutional and wholesale, the cryptocurrency market is retail-oriented and speculative in nature.

Previously, U.S. market regulators suggested that Congress pass legislation to grant federal agencies more direct regulatory power over crypto markets such as Bitcoin and Ethereum. (Source link)