Odaily News The incoming Trump administration wants to expand the CFTC's powers, giving it regulatory authority over a large portion of the digital asset market. With Trump taking office and the crypto industry's growing influence in Republican politics, the CFTC's responsibilities may soon expand to regulating crypto spot markets that are considered commodities, such as Bitcoin and Ethereum, and the exchanges that facilitate their trading, sources said. Key people in Trump's team believe that deregulation is needed to spur innovation in the crypto business, including potentially transformative blockchain technology. "With adequate funding and the right leadership, I think the CFTC can start regulating digital commodities on the first day of Trump's presidency," said former CFTC Chairman Chris Giancarlo. (FOX Business)