From Cointelegraph

May 29, 2025 12:10:00 am:

Former CFTC Chair Rostin Behnam says crypto market will stay unregulated without agency authority. SEC lacks jurisdiction over commodities like Bitcoin and Ether. CFTC can’t regulate as derivatives regulator. Behnam calls for new authority to regulate digital assets. Trump family’s crypto ventures under scrutiny, raising concerns about presidential influence.

Political commentator Sanders Townsend accuses Trump of using presidency to boost family’s crypto investments. Administration’s involvement in regulation raises red flags. Behnam emphasizes need for regulation to protect customers from harm, fraud, and manipulation. Regulation is crucial for financial market health, says Behnam. Vance rejects regulators at Bitcoin 2025 conference, Behnam stresses importance of regulators for market integrity.

Read more at Cointelegraph.com

1. Bitcoin hits new all-time high of $60,000, up 15% in the last week. Market cap surpasses $1 trillion, driven by institutional adoption and growing popularity among retail investors.

2. Ethereum’s price also surges, reaching $2,000 for the first time. The cryptocurrency’s market cap exceeds $200 billion, fueled by the rise of decentralized finance (DeFi) projects.

3. Tesla announces it will accept Bitcoin as payment for its electric vehicles, causing a further increase in the cryptocurrency’s value. CEO Elon Musk cites concerns about fiat currency devaluation as a reason for the move.

4. Major financial institutions like Morgan Stanley and BNY Mellon show increased interest in cryptocurrencies, signaling a shift towards mainstream acceptance of digital assets as an investment option. The adoption of blockchain technology for various applications is also on the rise.: Crypto vulnerable if CFTC not given authority, says ex-chair Behnam