U.S. Commodity trading chairman believes the agency is capable of overseeing crypto trading

08/11 14:49

According to SDPB, Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), talked about the new legislation that could give the CFTC authority over regulating digital commodities like cryptocurrencies. The legislation aims to give the CFTC some authority over cryptocurrency, like Bitcoin and Ethereum, to make transactions more transparent and provide federal oversight to the market, as well as protect against fraud and abusive trade practices. “I would say it’s an important thing, it’s a necessary thing, but it’s also a change for the agency,” Behnam said. He added there has been some pushback against the CFTC potentially regulating cryptocurrency markets, but Behnam believes the agency is capable of overseeing that trading. “We need to focus on what we do and what expertise we have, and that’s commodity markets, and let’s just use the tools we have and make some changes,” he said. “Life’s changing, technology evolves, and we’re ready for it. It’ll be interesting to see what happens.”

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