On March 2nd, four presidential nominees for the Commodities and Futures Trading Commission (CFTC) attended a senate confirmation hearing hosted by the Senate Agricultural Committee. During the hearing, nominees addressed looming questions about CFTC regulation of digital assets.
As it currently stands, the CFTC regulates digital asset derivatives markets but not the underlying assets in most cases; however, that could change in the near future. President Biden’s nominees echoed remarks by CFTC Chairman, Rostin Behnam, who requested more than $100,000,000 from Congress just last month – asking it to permit CFTC regulation of digital assets in addition to derivatives thereof. (Senate Hearing Transcript)