What Is Spot Trading In Crypto?
According to Rostin Behnam, the chairman of the CFTC, there have been no changes since the collapse of FTX
He asserts that the CFTC remains unable to exert control or regulation over spot markets
The CFTC's jurisdiction is limited to overseeing derivatives such as futures and options, leaving it without authority over spot markets for cryptocurrencies
Behnam emphasizes that the CFTC can only intervene in cases of fraud or manipulation in spot markets "after" receiving reports
Furthermore, the CFTC expresses disappointment over the failure of the Digital Commodities Consumer Protection Act of 2022 to pass in Congress last year.