CFTC Commissioner Stump Explains CFTC's Authority Over Digital Assets

CFTC Commissioner Dawn D. Stump outlined the CFTC's regulatory and enforcement authority with respect to digital assets. Ms. Stump explained that the proliferation of digital assets has (i) raised questions as to how such assets are regulated in the United States and (ii) resulted in the "grossly inaccurate oversimplification" that such assets are either SEC-regulated securities or CFTC-regulated commodities.

Ms. Stump expressed the need for a broader understanding of the scope of the CFTC's authority over digital assets prior to determining the need to redesign cryptocurrencies' regulatory oversight, and provided an infographic highlighting the following key points.

• The CEA's definition of "commodity" is very extensive, and categorizing a digital asset as a commodity is "unremarkable."