ChainDD (WeChat ID: ChainDD) January 9 news, U.S. CFTC Chairman Rostin Behnam will resign from his position on January 20, but elected President Trump has yet to appoint Behnam's successor. In his final public speech this week at the Brookings Institution, he extensively discussed cryptocurrencies and the necessity of elevating the CFTC as its regulatory body.
Behnam stated that cryptocurrencies "have dominated every period of my tenure." He said, "Market regulators play a crucial role in ensuring that financial innovation is integrated into a culture of regulation and compliance, protecting consumers and providing legal certainty," and he claimed he has never favored an enforcement-driven approach.
He believes: "In the absence of federal legislation, concerns about the increase of customer protection, fraud, and market abuse, broader market resilience, and even financial stability are intensifying. We have seen this historically, and we have placed large areas of the financial sector outside of oversight and accountability. Time and again, we see that the eventual outcome is bad." He urged protection for investors "eager to include digital asset products in their portfolios."
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