
Led by Commissioner Hester Pierce, the SEC’s new crypto task force aims to clarify the classification of crypto assets and not put everything within the “securities” bracket.
The CFTC is an independent federal regulatory agency tasked with overseeing the U.S. derivatives markets.
The U.S. Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974, that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options.
The Commodity Exchange Act (“CEA”), 7 U.S.C. § 1 et seq., prohibits fraudulent conduct in the trading of futures, swaps, and other derivatives. The stated mission of the CFTC is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation. After the financial crisis of 2007–2008 and since 2010 with the Dodd–Frank Wall Street Reform and Consumer Protection Act, CFTC has been transitioning to bring more transparency and sound regulation to the multitrillion dollar swaps market.
Led by Commissioner Hester Pierce, the SEC’s new crypto task force aims to clarify the classification of crypto assets and not put everything within the “securities” bracket.
The CFTC will get back to basics by hosting staff roundtables that will develop a robust administrative record with studies, data, expert reports, and public input.
Caroline Pham is replacing CFTC Chair Rostin Behnam as the acting CFTC Chair as the Trump administration has yet to announce a permanent Chairman for the agency.