CFTC chair Rostin Behnam declared that regulating the cash market for digital assets has "never been more critical," following the approval of spot Bitcoin ETFs.The chair of the Commodities Futures and Trading Commission (CFTC), Rostin Behnam, believes there is a risk of the recent approval of spot Bitcoin exchange-traded funds (ETFs) to be misinterpreted as firm regulations in place for Bitcoin BTC $41,819In a keynote speech on Jan. 26, Behnam clarified there is a potential for retail and institutional investors to misunderstand the legal certainty for spot Bitcoin ETFs, following the United States Securities and Exchange Commission's (SEC) decision to approve 11 applications on January 10.While the approval now allows investors to expose themselves to Bitcoin without directly holding the asset itself, supervised by an SEC-regulated stock exchange, he argued there is no regulatory oversight for the cash market of digital assets, such as a crypto exchange.Furthermore, Behnam explains that this has repercussions for the transparency of Bitcoin ETFs, since asset management firms acquire the underlying assets for the ETF from the cash market.He raised concerns regarding trade settlement, conflicts of interest, data reporting, cybersecurity, customer protections, transparency, and general market integrity."The ETPs have taken a speculative and volatile asset, wrapped it in a thin layer of indirect regulation, and packaged it as a shiny new product," he statedCFTC pays whistleblowers $16M this year for mostly crypto tipsThe enforcement of crypto regulations has been a prominent topic of discussion within the U.S. government in recent times, prompted by the demand from the crypto industry.In September 2023, Cointelegraph reported that the CFTC Commissioner Caroline Pham advocated for a limited pilot program to address crypto regulation.Pham warned that the U.S. may soon need to “play catch-up” to crypto-friendly jurisdictions. She suggested that the program would be similar to regulatory sandboxes previously introduced at the state level.However, many in the crypto industry anticipate that there could be increased regulatory clarity following the U.S. presidential election in November.A recent survey on Jan. 2 by the Crypto Council for Innovation (CCI), indicated that most crypto-focused individuals stated a candidate’s position on digital assets would be somewhat, very or extremely important to their vote#Write2Earn

Discussions on artificial intelligence (AI), real-world assets, BTC reaching $40k have seen a sudden increase, reports Santiment.The global discussions revolving around the world of artificial intelligenceand real-world assets have seen a sudden increase, according to data by Santiment. Furthermore, traders and investors are less inclined to discuss a bullish or bearish market. Market sentiment for BTC price of $40K may indicate a positive sign for investors.AI and Real World Assets Emerging As A Hot SpotWith countries advancing towards fostering the growth and development revolving around the world of AI, market data unveils a boost in investors and traders discussing the futuristic possibilities of real-world assets and Artificial Intelligence. Moreover, the discussions revolving around the price of cryptocurrencies plunge following the volatility of the crypto market as the market flattens. However, BTC reaching $40k sentiment continues to grow.Santiment’s data reveals a distinct trend implying that the search volume for Bitcoin exchange-traded funds (ETFs), a significant indicator in the cryptocurrency space, remains comparatively subdued despite BTC’s price appreciation.In stark contrast, search volumes for various other topics such as the consumer price index (CPI), PayPal stablecoin, Curve drama, bull market, and bear market exhibit significantly lower levels of engagement when compared to discussions about AI and real-world assets. This data underscores the growing significance of AI and real-world assets as emerging hot spots in the global financial landscape.#BTC #BitcoinInfluence #crypto2023 #BinanceSquareTalks