The CFTC's anguish is beginning to surface just two weeks after the Bitcoin Spot ETF received US SEC approval.

CFTC losing its BTC "Commodity"

     A while back, SEC Chairman Gary Gensler proclaimed Bitcoin to be a commodity. The CFTC penalised Binance severely under this excuse, making them feel special economic power in the US. The CFTC now believes that the Spot ETF is causing Bitcoin to escape its control and is showing concern over it.

The CFTC "Concern"

     Rostin Behnam, the chairman of the CFTC, has advocated for the adoption of federal law to regulate cryptocurrencies and voiced concern about the risks presented by the Bitcoin ETF products that were recently approved. Based on this, it seems the CFTC wants to use federal law to establish its control over Bitcoin (and maybe other cryptos).

Where is Economic Freedom?

     Although cryptocurrency cannot be controlled, its commerce can be restricted, and taxes can be collected from the beneficiaries by applying legal pressure to the industry's proprietors. Neither the CFTC nor the SEC are trustworthy; their shared goal is to pursue their own financial agendas by supressing people's economic freedom.