According to the Financial Times, Rostin Behnam, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), has expressed significant concerns regarding the insufficient regulation of digital assets, including Bitcoin and other cryptocurrencies. He has warned about a regulatory "void" in the U.S. crypto market, calling for stronger oversight of digital assets. Behnam is set to resign from his position on January 20, 2025, the same day as President-elect Donald Trump's inauguration.
During his tenure as CFTC Chairman, Behnam pushed for the first federal carbon offset guidelines and increased scrutiny of cryptocurrency and event contracts, such as election betting. He also led the CFTC's lawsuit against Binance, which resulted in a $4.3 billion settlement. Behnam believes that while the CFTC has the potential to regulate digital commodities, much of the U.S. crypto sector remains underregulated. He emphasized the need for comprehensive and strict regulations rather than quick fixes.
While Trump's administration has yet to nominate a successor for Behnam, it has chosen Paul Atkins, a well-known crypto advocate, to lead the U.S. Securities and Exchange Commission (SEC).