What is CFTC

CFTC stands for Commodity Futures Trading Commission. It is an independent US regulatory agency that regulates US derivatives market, including commodity futures, options, and over the counter markets. It is different from the SEC as they regulate different markets. Rising technologies, such as blockchain, have been reshaping the financial markets. As a result, the role of the CFTC has been redefined to keep up with these changes. This includes considering cryptocurrencies, specifically Bitcoin and Ether, as commodities subject to regulation by the US government. The decision to regulate digital currency markets was driven by their volatility and arising related risks. Moreover, it aims to keep a close eye on fraudulent behavior and manipulation.