According to PANews, Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission, said at the Milken Institute's 27th Annual Global Conference that as retail investor interest and the value of the cryptocurrency market rise, enforcement actions will also increase. He expects the next round of "enforcement action cycle" to occur in the next six months to two years.
“From my perspective as a regulator, we’re likely to see another cycle of enforcement actions over the next six to 18 months or six to 24 months, and that’s because of this cycle of asset appreciation and retail investor interest,” Behnam said. “Without a regulatory framework, without transparency, without these tools that we normally use as regulators, you’re going to continue to see this kind of fraud and manipulation.”
Behnam was asked during Monday’s discussion about the likelihood of the stablecoin bill being completed. “If we start to put a percentage, I still think it’s pretty low,” Behnam said, citing the reduction in legislative days in Congress between election season and the holidays, arguing that it would be very difficult to complete legislation.
