CFTC scraps HQ move to prepare for expanded crypto oversight

The U.S. Commodity Futures Trading Commission (CFTC) has scrapped its plan to move to a smaller headquarters, instead extending its current Washington office lease for five years. According to Bloomberg, the CFTC explained that it needs the space to hire additional staff to respond to industry growth and innovation, noting the current office can accommodate about 100 new employees. Bloomberg reported that the move comes as the CFTC seeks to strengthen its oversight of prediction markets. The agency is also expected to become the primary regulator for the broader crypto industry if Congress passes a digital asset market structure bill.