US CFTC Expands Cryptocurrency Oversight Using Nasdaq Surveillance System

Foresight News reported, according to The Block, that the U.S. Commodity Futures Trading Commission (CFTC) is adopting Nasdaq's surveillance program in order to play a greater role in regulating digital assets. In a statement on Wednesday, the CFTC said that Nasdaq's program will protect the market from fraud, abuse, and manipulation. Acting Chair Caroline Pham stated that the new monitoring system will equip the agency with automated alerts and cross-market analysis capabilities, and that the CFTC is also preparing for the growth of the cryptocurrency market. Earlier this month, the agency launched the "Crypto Sprint" initiative, focusing on crypto futures trading and the recommendations outlined in the President's Working Group on Financial Markets for digital assets.