PANews reported on December 7 that according to the Ta Kung Pao, the Trump administration's reform plan has won broad support within the crypto industry. More than 50 million Americans hold digital assets, and a clearer regulatory framework will help reduce market uncertainty and attract more institutional investors. However, this plan also faces concerns from some traditional CFTC voters. Some people in the agriculture and energy industries believe that expanding the CFTC's spot market regulatory power may erode the jurisdiction of other areas. In this regard, Giancarlo emphasized that any new legislation should clearly distinguish in language the regulatory authority of digital assets and physical commodities to avoid damage to the interests of traditional industries.
In addition, the CFTC's human and budgetary resources are relatively limited compared to the SEC. In 2024, the CFTC's operating budget is $400 million, only one-sixth of the SEC's, and its staff is far less than the SEC. Under such circumstances, whether the CFTC can cope with the expanded scope of responsibilities remains an important practical issue.
