Trump to Grant CFTC Oversight of the Crypto Market?

[TomPluz]

...i agree that if there is to be regulation, it should be clearer for all to understand, and not penalty first before the laws are understood properly.

The SEC under the infamous Gary Gensler who will leave soon has been heavily criticized for doing what many termed as "regulations by enforcement" which is actually a form of lawfare. Finally, he will be leaving before Trump will take office in January and a new SEC Chairman can be coming who is presumed to be friendly (though he can still be strict) and fair to the cryptocurrency industry. I believe that SEC among other governmental agencies should be working towards clarifying the laws they are implementing and if possible make a regulatory law specific to this expanding yet still fledging industry. There are many good news on the horizon and I think the prices of many coins in the market are reflecting this excitement and hope for a better era.

[Stompix]

As reminder, current SEC chair state Bitcoin isn't security on some occasion[1-2]. l]

Gensler was always a Bitcoin maxi, he said it always that Bitcoin is not a security, altcoin lovers can shit on the guy how much they want but for Bitcoin he was the best we could get, clearly painting a border between a truly decentralized crypto and pump and dump tokens issued by unknown entities that wouldn't pass the Howey test!

And speaking of politics, wait till some realize that the chairman of the CTFC is a Democrat that was nominated by Trump back in 2017! 

[Bobcrypto]

So many new developments are coming in, i don't know what the effect will be in the long run, if it will be positive or negative and if the president-elect would still continue showing the interest he showed towards BTC pre election, or if they are going to create a 'shitcoin' and shift focus to it.

However, i agree that if there is to be regulation, it should be clearer for all to understand, and not penalty first before the laws are understood properly.

I understood that part of the president elect plans on crypto was not to create a shitcoins and focus on it.  Donald Trump made ten promise during his campaign era, and it is becoming obvious that he has already started with some notable appointments.
Effect from January, 2025, Mr Paul Atkins will take over the affair of the SEC, this part of his promises made to the crypto community is now settled.
We are still hoping that nine more of the promises made are loading but it is going to be gradual process in my opinion

[NotATether]

WTF is Gary Gensler doing on a news picture of Trump giving CFTC control of the crypto market regulations? I think he had resigned by that point.

But more baffling is putting SBF's picture there. He was literally in prison by the time this happened. So of course there is no way he is going to benefit from this. These news organizations just put whatever they want on the news, even if it doesn't make any sense.

[Bobcrypto]

I may be wrong, but there's possibility of task overlap since SEC already monitor cryptocurrency market. So if Trump actually execute this plan, i wonder what kind of task CFTC will do that SEC don't.

I think that there will not be any task overlap or conflicting ideas from both bodies. It may be that Donald Trump wanted a check and balance situation on the crypto economy. The CFTC may just be specifically an advisory body to the president on the crypto market.
Other duties with regard to regulations, rules or laws that will govern the crypto sector, security, mining, ETF and others, will be handle by the SEC in my opinion.