Better Markets says CFTC is ‘wrong agency’ to regulate retail crypto
Summary
The CFTC is seeking public comment on a framework for margined, leveraged or financed retail crypto transactions, potentially bringing qualifying trading platforms under its oversight. Better Markets argues the agency lacks the SEC’s investor-protection mandate and that its authority was originally designed to address leveraged precious-metals fraud, not retail crypto. The group also warns that proposed rules could permit market affiliations linked to FTX’s collapse. NovaDius Wealth Management’s Nate Geraci countered that regulators may need to establish clear rules if Congress does not act. The CFTC and SEC are advancing crypto policies under existing law after the CLARITY Act stalled.
