Former CFTC commissioner says crypto can be regulated without new legislation

Former U.S. Commodity Futures Trading Commission Commissioner Caroline Pham, now chief legal officer at MoonPay, said the CFTC can regulate cryptocurrencies through its own rulemaking without separate legislation from Congress, according to The Block. Pham said the Commodity Exchange Act is broad enough to classify nearly everything as a commodity, with the exception of onions and box office receipts from motion pictures, and said there are few areas beyond the CFTC’s regulatory reach.