SEC Chair: Supports Congress granting CFTC authority to regulate cryptocurrency spot markets

According to BlockBeats, on October 14, The Block reported that Securities and Exchange Commission (SEC) Chairman Gary Gensler expressed support for Congress giving the Commodity Futures Trading Commission (CFTC) the authority to regulate the spot market for cryptocurrencies. The CFTC, which currently has no direct regulatory channel over the underlying non-security tokens, should have more authority.