The U.S. Commodity Futures Trading Commission (CFTC) adopts Nasdaq's surveillance system to strengthen cryptocurrency regulation

ChainCatcher News, the U.S. Commodity Futures Trading Commission (CFTC) recently announced that it will adopt Nasdaq's market surveillance system to enhance its regulatory capabilities over the digital asset market. This system will provide regulators with automated alerts and "cross-market analysis" features to help identify potential market manipulation patterns and support agencies in "rapidly scaling regulatory capabilities during periods of increased trading volume and volatility." The new system will enable agencies to access comprehensive order book data, supporting real-time analysis and decision-making, effectively "preventing and detecting abusive practices in both traditional and crypto asset markets."

It is reported that the CFTC has recently launched the "Crypto Sprint" initiative, focusing on crypto futures trading and the recommendations proposed by the President's Working Group on Digital Assets. If Congress passes the relevant legislation currently under consideration in both chambers, the CFTC's authority in the cryptocurrency regulatory space will be significantly expanded. The previously proposed "Clarity Act" would grant the CFTC exclusive jurisdiction over blockchain commodities, requiring digital commodity exchanges, brokers, and dealers to register and implement new compliance, anti-money laundering, and reporting obligations.

Currently, the CFTC is facing challenges related to personnel changes, with four commissioners, including Pham, having left or set to leave after the new chair is confirmed.