LeoGlossary: Commodity Futures Trading Commission (CFTC)

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An independent US Government agency that was created in 1974 to oversee and regulate the U.S. derivatives markets. This includes futures, swaps, and some kinds of options.

It was established through The Commodity Futures Trading Commission Act.

The stated mission of the CFTC is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation.

Regional Offices

  • Chicago
  • New York
  • Kansas City, Missouri

The Commission

The Commission is appointed by the President of the United States. This is made up of 5 members, one who is selected as Chair. The term is for 5 years, which are staggered among the different commissioners.

There can be no more than 3 member from any party.

Digital Assets

In March of 2014, the CFTC declared Bitcoin to be a commodity, hence the trading of it came under its domain. This is a point of contention with the Securities and Exchange Commission (SEC) who feels that digital assets, including cryptocurrencies, are securities.

Ethereum is another coin that was declared to be a commodity. However, in 2022, due to the shift to the proof-of-stake consensus mechanism, the SEC is alleging that it is going to be a security. This is going to set off another round of fighting between the two regulators.


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