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Crypto

U.S. CFTC staffing hits 15-year low as crypto and prediction market oversight burden grows

The U.S. Commodity Futures Trading Commission\'s workforce has fallen to its lowest level in 15 years after dropping 24% since President Donald Trump\'s return, even as oversight demands increase for cryptocurrencies, oil futures and rapidly growing prediction markets. Staff numbers fell to 535 as of February after layoffs and departures. Lawmakers and former officials raised concerns about weakened enforcement capacity, while the agency said it is using artificial intelligence and software to fill gaps.

Crypto

U.S. CFTC adds New York to lawsuit to block prediction market regulation

The U.S. Commodity Futures Trading Commission has filed a lawsuit against New York state over its move to regulate prediction market operators. In a complaint filed in the U.S. District Court for the Southern District of New York, the CFTC argued that authority to regulate related derivatives, including prediction market contracts, belongs to it under federal law. New York has sued Coinbase and Gemini, citing alleged violations of state gambling law.

Crypto

Five obstacles to U.S. CLARITY bill, from Trump controversy to stablecoin interest

The U.S. Congress’ cryptocurrency bill known as the CLARITY Act faces at least five hurdles beyond the question of interest on stablecoins, an analysis said. TD Cowen pointed to vacancies at the CFTC, efforts to fold prediction markets into the bill, controversy over a Trump family-linked crypto project, pressure to tighten AML and Bank Secrecy Act provisions, and the possible attachment of a credit card competition bill. Stablecoin interest remains unresolved.