CFTC Leadership Change Foretells New Era in Crypto Oversight
by aria-crypto.com
January 8, 2025 at 06:33
CFTC Leadership Change Foretells New Era in Crypto Oversight
In a significant development for U.S. cryptocurrency regulation, Rostin Behnam, Chairman of the Commodity Futures Trading Commission (CFTC), announced his resignation effective January 20, stepping down fully by February 7. During his tenure, Behnam was a vocal proponent of granting the CFTC expanded oversight over cryptocurrencies, advocating for its designation as the primary regulatory authority for digital assets like Bitcoin and Ethereum. Although major legislative enhancements remained unachieved, the Republican control of Congress and the White House could catalyze the extension of CFTC's regulatory powers. Behnam has tirelessly argued for clearer regulations in the rapidly evolving digital asset space, especially with the growing popularity of event contracts and political prediction markets. His departure underscores the pressing need for legislative action to clarify permissible boundaries within these emerging markets. The next CFTC chair faces the daunting task of navigating these complex regulatory challenges, continuing the push for a comprehensive framework to ensure the robust oversight of an increasingly mainstream cryptocurrency market.
Read more
>> EU Regulatory Scrutiny Intensifies as FTX Clashes with Backpack Over Misleading FTX EU Acquisition Claims
FTX.com and the FTX Recovery Trust recently highlighted misleading statements by Backpack regarding their acquisition of FTX EU. Despite Backpack's announcement on January 7, 2025, FTX retains full ownership of...
>> DOJ's Approval to Liquidate US Bitcoin Holdings Shakes Crypto Market
The U.S. Department of Justice (DOJ) has received court approval to sell a massive stash of 69,370 Bitcoin, a decision sparking significant turbulence in the cryptocurrency markets. Initially seized from the Si...
2 hours ago
>> EU Crypto Market Expands as Bullish Secures Key BaFin Licenses
Bullish Group, through its German subsidiary Bullish DE Custody GmbH, has obtained crucial regulatory approvals from Germany's Federal Financial Supervisory Authority (BaFin). Granted on December 20, these app...
>> CFTC Chair Behnam Advocates for Rigorous Crypto Regulations as Tenure Ends
Outgoing U.S. Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam emphasized the necessity of establishing regulatory frameworks for cryptocurrencies in his final public statements. Speaking at a Br...
>> South Korea Enhances Crypto Market, Making Way for Bitcoin and Corporate Crypto Investments
South Korea is reportedly set to lift its de facto ban on institutional crypto trading, a move that could revitalize the market landscape for Bitcoin and other cryptocurrencies. Local media outlets have highlig...
13 hours ago
>> DeFi Innovations Soar as Pyth Network and Revolut Forge Strategic Data Alliance
Blockchain oracle Pyth Network and digital banking giant Revolut have embarked on a strategic partnership to enhance data sharing within the DeFi sector. This collaboration will see Revolut integrating its exte...
15 hours ago
>> UAE's Crypto.com and Dubai Islamic Bank Forge Pioneering Partnership to Revolutionize Crypto and Sharia Banking
Crypto.com has officially collaborated with Dubai Islamic Bank, the largest Islamic bank in the UAE, to roll out innovative cryptocurrency services while adhering to Sharia principles. This strategic alliance w...
>> South Korea Embraces Bitcoin, Setting New Investment Horizons
South Korea is embracing a transformative phase towards cryptocurrency investments as the Financial Services Commission (FSC) indicates plans for allowing companies to engage with cryptocurrencies. This strateg...
16 hours ago
>> Bitcoin Fuels Tourism Innovation in Phuket, Thailand
Thailand is set to enhance its tourism sector by introducing a Bitcoin payment pilot program in Phuket by 2025, announced Deputy Prime Minister Pichai Chunhavajira. This initiative is designed to provide touris...
17 hours ago
>> Navigating Legal Waters: SEC Faces Challenge as Court Approves Coinbase's Appeal Impacting Ripple and Crypto Regulation
Judge Katherine Polk Failla of the Southern District of New York recently granted Coinbase permission to pursue an interlocutory appeal in its ongoing legal clash with the SEC. The appeal will focus on whether ...
17 hours ago
All the latest crypto news in one place
Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Launch Terminal
