The chairman of the US CFTC: the regulation of the encrypted spot market is a big step, which will push the CFTC to expand its regulatory authority

According to The Block, Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that "the regulation of the encrypted spot market is a big step for us" and is currently continuing to broadly push the CFTC to expand its regulatory authority in the field of cryptocurrencies. At the same time, he said that unlike the traditional commodity market, which is mainly institutional and wholesale, the cryptocurrency market is retail-oriented and speculative. Foresight News noted that U.S. market regulators had previously recommended that Congress pass legislation granting federal agencies more direct regulatory powers over encrypted markets such as Bitcoin and Ethereum.