Crypto Industry Pushes for CFTC Regulation

The cryptocurrency industry is ramping up its political strategy in preparation for the 2026 elections, focusing on securing favorable regulations. Coinbase, a major player in the sector, is advocating for legislation that would designate the Commodity Futures Trading Commission as the primary regulator for cryptocurrencies, following their significant financial support of the pro-crypto super PAC Fairshake during the 2024 elections. With a new Republican-controlled Congress and President-elect Donald Trump, who has shifted his stance on crypto, Coinbase's president Emilie Choi is optimistic about ending the current 'regulation by enforcement' approach. The Biden administration's previous scrutiny of the crypto sector, particularly following the FTX collapse, has created a contentious legal landscape, but Choi believes a Trump administration could open new avenues for growth. In addition to political efforts, a recent collaboration between the U.S. and the U.K. aims to enhance regulatory frameworks for cryptocurrencies through shared expertise. This initiative reflects the growing recognition among regulators of the need for cohesive strategies to manage the evolving digital assets landscape.