Rostin Behnam, the head of the U.S. Commodity Futures Trading Commission, said he has already directed his agency to begin preparing to be the major, fully funded regulator for much of the crypto market, as anticipated in Senate legislation.
“The volatility in the market, and its impact on retail customers – which may only worsen under current macroeconomic conditions – emphasizes the immediate need for regulatory clarity and market protections,” Behnam is set to tell members of the Senate Agriculture Committee in testimony set for delivery on Thursday. A bill being pushed by committee leaders to create new rules for the crypto industry, putting Behnam’s agency at the center of federal oversight, recognizes “the CFTC’s expertise and experience make it the right regulator for the digital asset commodity market,” he added.
‘Enforcement 40’ for 2020
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