Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), has given his support behind potentially increasing the CFTC's power in the cryptocurrency sector, The Block has reported.
He has said during a speech at the Digital Asset Quality Conference at Georgetown University that crypto projects outside the SEC's jurisdiction "can be counted on the fingers of a hand or two."
Prior to his appointment as chairman of the regulator in April last year, he led the CFTC and was remembered for his tough approach to regulation.
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Gensler has already spoken out in September in favor of granting additional powers to the Commodity Futures Trading Commission in the digital asset market.
The CEO of crypto exchange FTX, Sam Bankman-Fried, supported a bill in August to transfer oversight of the sector to the CFTC.