The appeal to extend the authority of the CFTC to be able to regulate non -security cryptography assets echoes the law on clarity.
The new Policy Report on Digital Assets of the Trump Administration, published on Thursday, July 30, calls for the Commodity Futures Trading Commission (CFTC) to have an extended role in order to supervise the cryptographic markets alongside other regulators, echoing the proposals in the bill on the status of the cryptographic market which takes place thanks to the Congress.
Entitled “Strengthen American leadership in digital financial technology”, the report was written by the president’s working group on digital asset markets and recommends giving the CFTC authority on the ad hoc markets for non -security tokens such as Bitcoin (BTC), which is currently negotiated at around $ 118,000. For the context, the CFTC generally oversees derivative markets – not cash markets.
The report argues that the CFTC should work in close collaboration alongside the Securities and Exchange Commission (SEC) to collaborate in the supervision of cryptographic markets, and says that the United States needs clear and flexible rules to remain competitive. He also calls on Congress to better define the roles of the two agencies and should allow the CFTC to clearly take the lead from cryptographic assets which are not considered as titles.
“The congress should adopt legislation which grants the Commodity Futures Trading Commission, a clear authorization to regulate the cash markets of non -security assets,” said the report. “This legislation should allow the two inscribers of market regulators to engage in several sectors of activity within the framework of the most effective license structure possible.”
This decision is also aligned with the broader law on clarity focused on the structure of the market, a bill that would move the primary monitoring of CFTC CFTC cryptography, and also encourage the two regulators to align and coordinate more. Supporters say that this would provide clearer rules and reduce the regulations by application.
The latest version of the Clarity Act – which has recently been adopted by the House of Representatives of the United States but awaits the adoption by the Senate – indicates that the CFTC would have “exclusive jurisdiction with regard to any account, agreement, contract or transaction involving a contract for the sale of a digital product or a trading asset in interstate trade, including a digital market or a soil asset exchanged, facilitated, erased »»
This recommendation arises while the rapidly growing cryptocurrency market recently exceeded 4 billions of dollars in market capitalization. Meanwhile, the total locked value (TVL) in decentralized finance (DEFI) is currently 192 billion dollars, up 68% against $ 114 billion since April, according to Defilma data.
Experts remain cautious
Despite the anticipation around the report, some experts remain cautious about the pace of significant changes.
Kyle Chassé, founder of MV Global, declared in the comments shared with the detection that the report “does not recruit much field”.
“Most of the recommendations simply echo the provisions already found in existing bills circulating in the congress,” added Chased. “There is still a massive gap between the principles described and taking real measures that move on the market.”
More specifically, some in the industry have expressed their disappointment that the report did not provide new details on the Bitcoin Strategic Reserve of the US Government – established by decree in March – in particular around the plan of the government to extend the reserve.
By referring to the mandate in President Trump’s OK to explore “the acquisition” of more bitcoin for the strategic reserve in a “neutral budgetary”, argued the hunt: “We should reproduce gold now. We could sell excess federal assets – even our reservations of $ 3 billion – and seriously get a position in the best high -performance active in the last 15 years. ” Chased continued:
“Are we really going to leave companies and other sovereigns in the race in the United States on this subject?” If we want to make America the world capital of cryptography, we must stop telling and start to execute. ”
During an interview on Crypto in America yesterday, Bo Hines, the executive director of the president of the council of advisers on digital assets, was vague during the answer to a question on updates on the Bitcoin Strategic Reserve. Hines said the government continued to explore the “neutral ways of the budget” for “accumulation”, as indicated in the OE, and said:
“Well, we have it. He also dodged a question about the quantity of BTC that the United States government is currently holding confiscations of assets.
