Second Major Resignation After SEC Chairman! CFTC Chairman Also Announces He Will Resign! Warned About Bitcoin and Cryptocurrencies!

While US President-elect Donald Trump is expected to take office on January 20, the second major resignation has come after SEC Chairman Gary Gensler.

Speaking to the Financial Times, US Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam said he will resign on January 20, the day Donald Trump is sworn in as president.

Although Behnam did not provide a specific reason for his resignation, his resignation statement increased speculation about a possible change under the Trump administration.

Trump is expected to appoint Republican CFTC commissioners Summer Mersinger or Caroline Pham as interim chair to replace Behnam.

He Talked About Bitcoin and Cryptocurrencies!CFTC Chairman Behnam made important statements regarding Bitcoin (BTC) and cryptocurrencies while announcing his resignation to the FT.

Behnam expressed concern about regulatory gaps in the U.S. crypto market, saying cryptocurrencies need to be more tightly regulated.
Behnam, who expressed concern about the inadequacy of regulation of digital assets, including Bitcoin and other cryptocurrencies, said,

“There is still a large part of the cryptocurrency space that is unregulated in the U.S. regulatory system, and given the huge demand for these products by both retail and institutional investors, the adoption of some traditional financial institutions poses a great risk and urgently needs to be filled.”

During his tenure, Behnam made several critical moves, most notably spearheading a $4.3 billion settlement against Binance, the world’s largest cryptocurrency exchange, and emphasizing the CFTC’s role in regulating digital commodities.

While the replacement for CFTC Chairman Rostin Behnam has not yet been announced, Trump has appointed crypto advocate Paul Atkins as the new SEC chairman, replacing SEC Chairman Gary Gensler.

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#CFTC Chairman #rostinbehnam ’s resignation on January 20 marks a pivotal shift in U.S. crypto regulation. Known for advocating stricter oversight, Behnam’s tenure included enforcement actions that reshaped market dynamics.

🔥With his departure coinciding with SEC Chair Gary Gensler’s exit, the incoming administration will set the tone for future crypto policies.

🚀 For traders, this transition signals potential volatility as regulatory frameworks evolve. Pay close attention to new leadership appointments and legislative changes, as these could redefine market conditions and create opportunities or risks in the rapidly adapting crypto landscape. Strategic positioning during this period is key to navigating upcoming regulatory impacts.
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🚨🚨🚨🚨🚨 ATTENTION 🚨🚨🚨

"CFTC Chair Rostin Behnam Sets Ambitious Goal: Crafting Crypto Regulatory Framework in 12 Months with FIT Act Approval

In an annual address to the House Agriculture Committee, CFTC Chair Rostin Behnam expressed optimism about creating a comprehensive regulatory structure for the crypto industry within a year, contingent on the passage of the Financial Innovation and Technology Act for the 21st Century (FIT Act) by Congress. Behnam highlighted the urgency in addressing regulatory gaps in the crypto sector, particularly around bitcoin (BTC), and urged lawmakers to consider the FIT Act. The hearing also delved into the CFTC's budget requests for the upcoming fiscal year, emphasizing the need for financial certainty. Behnam shed light on the classification of bitcoin as a commodity, clarifying its status in relation to securities."
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