PANews reported on January 7 that according to the Financial Times, Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that the regulation of digital assets, including Bitcoin and other cryptocurrencies, is still not adequate and worrying. He warned that there is a regulatory "gap" in the U.S. cryptocurrency market and called for stronger regulation of digital assets. He will step down on January 20, the day President-elect Donald Trump takes office.
During his tenure as CFTC chairman, Behnam promoted the first federal carbon offset guidance and increased scrutiny of cryptocurrencies and event contracts (such as election betting). He also led the CFTC's lawsuit against Binance, which ultimately resulted in a $4.3 billion settlement. Behnam said the CFTC has the ability to become a regulator of digital commodity assets, but most areas of crypto assets in the United States are still unregulated. He emphasized the need for comprehensive and strict regulations rather than quick solutions.
Trump has yet to nominate his successor but has chosen crypto advocate Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC).
