A US-founded agency that oversees the derivatives market, preventing fraud and ensuring financial integrity.
The Commodity Future Trading Commission, or CFTC, is a US-based organization in charge of maintaining financial integrity in the derivative market and preventing fraud. The CFTC first acknowledged that there was disagreement over whether it should regulate Bitcoin in 2014. Since then, it has adopted the stance that Bitcoin falls under the Commodity Exchange Act's definition of a commodity.
The CFTC has been implementing adjustments to the multi-trillion dollar swap market to tighten regulation, promote transparency, and strengthen the reliability and strength of the derivative market; further safeguarding users' funds from corrupt activities as they ensure efficient operation in the derivative market.