According to the source, Senate Agriculture leaders are advancing a plan to place U.S. crypto spot trading under CFTC oversight (source: the source post dated Nov 11, 2025). The CFTC currently regulates commodity derivatives, not comprehensive crypto spot markets, as described in the agency’s mission and authority statements (source: CFTC.gov). A prior bipartisan proposal, the 2022 Digital Commodities Consumer Protection Act led by Senators Stabenow and Boozman, outlined granting the CFTC authority over digital commodity spot markets and registering spot platforms (source: U.S. Senate bill S.4760, 117th Congress, 2022). Under that framework, federal market surveillance, customer asset safeguards, and platform registration requirements are central features that materially affect trading costs, liquidity distribution, and venue selection for U.S.-facing spot markets (source: U.S. Senate bill S.4760, 117th Congress, 2022). The source did not provide current bill text or implementation timelines, so the scope, token definitions, and transition details remain unspecified at this stage (source: the source post).

According to Eleanor Terrett, incoming CFTC Chairman Brian Quintenz is actively engaging with key Senate members, including Senator Chuck Grassley, to discuss regulatory approaches concerning cryptocurrency spot markets. This indicates a potential shift in CFTC's focus towards more comprehensive oversight on crypto trading platforms, which could impact market operations and compliance requirements.