Rostin Behnam, Chairman of the US Commodity Futures Trading Commission (CFTC), recently made an important statement about the future of the cryptocurrency market.
Behnam predicts that we may witness another enforcement cycle in the crypto space in the next 6 to 24 months. The reason for this situation is that there is no regulatory framework in the cryptocurrency industry yet, the assets are gaining value and the interest of individual investors and entrepreneurs is increasing again.
Also making a statement about the sustainability of digital assets, Behnam said, "This asset class has sustainability. It is clear that there has been a growth in the last six months, despite what happened in 2022."
Regarding crypto legislation, Behnam noted that bipartisan discussions are still ongoing. "The bipartisan discussions are continuing... moving slowly but naturally and still ongoing," he said.
Although Behnam acknowledges the legitimacy of the crypto asset class, he predicts there may be further enforcement actions due to regulatory uncertainty. “Given the legitimacy of this asset class aside,” he added, “I expect there to be further enforcement action due to regulatory uncertainty.”
At the end of his statements, Behnam acknowledged that the market was growing and said: "Despite what happened in 2022, we have a growing market..."
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