U.S. Senate Warren questions the regulatory capacity of the U.S. CFTC, stating that staff reductions and expanded authority could pose risks

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Deep Tide TechFlow News: On June 10, according to The Block, U.S. Senator Elizabeth Warren sent a letter to the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Michael Selig, questioning whether the agency is able to take on greater regulatory responsibilities for cryptocurrencies and prediction markets amid staff reductions and a decline in enforcement activities.

Warren said the CFTC’s staffing level has shrunk by about 25% and specifically cited the agency’s recent handling of matters involving Gemini, Polymarket, and Crypto.com. She also requested records related to staff reassignments, communications with prediction market companies, and interactions with the cryptocurrency industry regarding the Clarity Act.

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