CFTC can regulate crypto without new laws, Pham says

Former Commodity Futures Trading Commission (CFTC) acting chair Caroline Pham has argued that existing U.S. commodity laws already give the regulator extensive authority over cryptocurrency markets, following the agency's October 5 proposal for a federal framework covering leveraged retail crypto trading. Former CFTC acting chair Caroline Pham argued existing commodity laws already support extensive cryptocurrency oversight powers. The CFTC proposed new rules for leveraged retail cryptocurrency trading on October 5, seeking public feedback. Pham estimated immediate settlement across wholesale markets would require approximately $15 trillion in available cash daily.