ChainDD (WeChat ID: ChainDD) reported on January 9 that U.S. CFTC Chairman Rostin Behnam will resign from his position on January 20, but President Trump has yet to appoint a successor for Behnam. In his final public speech this week at the Brookings Institution, he extensively discussed cryptocurrencies and the necessity of elevating the CFTC as its regulatory body.
Behnam stated that cryptocurrencies "have dominated every period of my tenure," and he said, "Market regulators play a crucial role in ensuring that financial innovation is integrated into a regulatory and compliance culture, protecting consumers and providing legal certainty," and he remarked that he has never favored an enforcement-driven approach.
He believes that "in the absence of federal legislation, concerns about increased consumer protection, fraud, and market abuse, broader market resilience, and even financial stability are intensifying. We have seen this situation historically, and we have placed large areas of the financial sector outside of oversight and accountability, and time and again we have seen that the final outcome is quite bad." He urges the protection of investors "eager to incorporate digital asset products into their portfolios."
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