The president-elect's transition team is consulting with industry leaders as it vets potential replacements for outgoing chair Gary Gensler, sources tell WIRED.

The US Commodity Futures Trading Commission, the underfunded regulator overshadowed by the SEC, has a path to prominence if the incoming Trump administration revamps crypto policy and installs an industry-leaning chair.

After funneling hefty sums into the 2024 elections, the crypto industry is poised to wield considerable influence over the incoming government. The industry spent more than $180 million on campaigns this election cycle,

The Trump government is reportedly looking at the possibility of giving the CFTC the authority to regulate the spot market for Bitcoin and other cryptocurrencies, potentially providing more clarity on which regulator should oversee the industry.