Gensler from SEC backs expanding CFTC's role in Bitcoin oversight

So, Gensler spoke at some industry event and mentioned he’s eager to collaborate with Congress to boost the CFTC’s authority. He thinks they might need more power to keep track of those "nonsecurity tokens" and the players involved. Also, it’s worth noting that back in May, the SEC almost doubled the size of its crypto enforcement team. Honestly, I don’t expect much to change this year. But if we hit 5 trillion soon, I bet we’ll see some serious regulation coming our way.

Will both the sec and the cftc argue it's not their area of authority/expertise though. Is crypto the only thing to not meet the criteria for a security or a derivative? It seems like it'd be more reasonable to have a parent agency of the two that deals with anything that can't be described as matching either if both would have trouble regulating it (as they seem to be saying they would).

I am of the opinion that for the authorities and the law, this area is still perceived as quite harmless, at least if we take that famous market cap as the main criterion. We know that this measure is something that is completely manipulative when talking about the total market cap, but Bitcoin at $100k would amount to about $2 trillion, with at least that much more for all altcoins. The more money there is in that game, the more interest there will be in regulating it - and until then, they will let the little baby play its carefree game (I refer to Brad Sherman's statement in Libra case "Bitcoin is a small baby here").

I've read about SEC & Congress policies on this, if I'm not reading it wrong several subcommittees and several members of Federal regulators have written to the SEC & Congress in their concerns about exchanges and fraud especially related to crypto. But the SEC and Congress are still unclear on how to support and supervise crypto exchanges & tokens. Gensler said. Whereas Congress said. Added to this statement. my vision: Cryptariat Coin Securities Is Not Clear, SEC Chair Gary Gensler Crypto Project Desuk To Register To Regulators. According l to what I have seen and read, it is clear that this will cause confusion, especially from the crypto industry, regarding the lack of clarity regarding the categories of commodities or securities that must be applied and followed.