Better Markets criticizes CFTC plan for retail crypto oversight

Better Markets, a financial reform nonprofit, says the Commodity Futures Trading Commission is not the right agency to oversee certain retail crypto transactions. The group argues that the agency’s proposed framework would provide weaker investor protections than those offered under the SEC. The CFTC asked for public comment on a possible rule set covering margined, leveraged, or financed retail crypto transactions under its current authority. Better Markets responded that the agency’s mandate is focused on commodities and derivatives, not retail investor protection, and said the SEC is better equipped for that role. The group also questioned whether Congress intended the CFTC to become a primary regulator for retail crypto. The debate comes as the CFTC and SEC continue advancing crypto policy while the CLARITY Act remains stalled in Congress.