Chairman Rostin Behnam of the U.S. CFTC to Step Down on Trump's Inauguration Day, Cautioning the Existence of Regulatory Gaps in Cryptocurrency Supervision

Chairman Rostin Behnam of the U.S. Commodity Futures Trading Commission (CFTC) has announced that he will step down on January 20th, the day of President Donald Trump’s inauguration, according to the Financial Times.

During his four-year tenure, Behnam led the CFTC in developing the first federal carbon offset guidelines and strengthened scrutiny of cryptocurrencies and so-called event contracts, including those that allow betting on elections. He also oversaw the CFTC’s 2023 lawsuit against the cryptocurrency exchange Binance, which ultimately resulted in a $4.3 billion settlement agreement between the exchange and U.S. authorities.

However, Behnam expressed concerns in his interview with the Financial Times about the inadequate regulation of digital assets, including Bitcoin and other cryptocurrencies. He stated:

“Trump has already chosen Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC), but he has not yet nominated a successor for Behnam. According to Bloomberg, Brian Quintenz, the policy head of venture capital firm Andreessen Horowitz’s crypto division, a16z crypto, has emerged as a popular candidate to lead the CFTC.”

Related article: “JPMorgan: CFTC Chairman’s Appointment Particularly Important, May Play a Crucial Role in Regulating Bitcoin and Ether.”

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