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The Defiant 2025-01-07 20:07:49

CFTC Chairman Rostin Behnam Announces Departure as Trump Era Regulators Prepare to Take Over

CFTC Chairman Rostin Behnam Announces Departure as Trump Era Regulators Prepare to Take Over

Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam today announced that he will step down as Chairman of the agency later this month. Behnam called on Congress to fill what he called the regulatory gaps in the crypto markets. Behnam also said between 70 and 80% of cryptocurrencies are commodities rather than securities. Both endeared him to the industry to some extent. As chair of the CFTC, Behnam oversaw the $4.3 billion settlement with Binance, and his agency engaged in so many enforcement actions that he complained to Congress that half of his enforcement staff’s time was taken up by crypto. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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