CFTC Chair Behnam Advocates for Rigorous Crypto Regulations as Tenure Ends
by aria-crypto.com
January 8, 2025 at 22:43
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 Brookings Institution event, Behnam reiterated his plea to Congress to address the regulatory shortcomings in the crypto industry. He acknowledged that developing comprehensive legislation and subsequent rulemaking could span over a year. Despite his impending departure, Behnam is optimistic that acting chairs will initially adopt a proactive approach to regulation under the new administration. He also highlighted the industry’s ongoing challenges, such as market manipulation and the need for robust investor protections. Growing legislative attention, including efforts from Senators Stabenow and Boozman, seeks to classify digital commodities under CFTC oversight, although such initiatives face critique from decentralized finance proponents. Behnam concluded his tenure calling for a strategic, regulated expansion of crypto services to safeguard all market participants.
Read more
>> US Government's $6.5 Billion Bitcoin Auction: Strategic Sale or Market Disruptor?
The US Department of Justice is set to auction off $6.5 billion worth of Bitcoin previously seized from the Silk Road, a development that could significantly influence market prices. This move follows a legal b...
9 minutes ago
>> Standard Chartered Expands Digital Asset Services in Luxembourg and Beyond
UK-based Standard Chartered Bank has announced the establishment of a new entity in Luxembourg to serve as its regulatory hub for crypto and digital asset custody services across the European Union. This strate...
>> Ethereum vs. Solana: Fidelity's Insight into Cryptocurrency's Future Competition
As Fidelity Digital Assets evaluates the ongoing competition between Ethereum and Solana, their analysis emphasizes Ethereum's robust fundamentals offering a long-term advantage over Solana. While acknowledging...
2 hours ago
>> Standard Chartered Embraces EU Crypto Market with MiCA-compliant Custody Services
Standard Chartered has officially entered the European cryptocurrency market, launching a new crypto custody service in Luxembourg under the newly established Markets in Crypto-Assets (MiCA) regulations. The ba...
4 hours ago
>> Bitcoin's Strategic Ascendancy: Fidelity Predicts National Crypto Reserves in 2025
In an intriguing forecast by Fidelity Digital Assets, Bitcoin's integration into national strategies is anticipated to accelerate by 2025, driven by its adoption by various nation-states and their treasuries. T...
5 hours ago
>> SEC and Coinbase Navigate Regulatory Challenges in Singapore's Crypto Landscape
In a notable development reported by U.Today, veteran trader Peter Brandt predicted a potential surge in XRP's market cap to $500 billion based on current chart patterns, although such predictions carry inheren...
6 hours ago
>> IMF Highlights the Need for Strengthened Crypto Regulations in Kenya
The International Monetary Fund (IMF) has highlighted several deficiencies in Kenya's regulatory approach to cryptocurrencies and urged the country to create a comprehensive regulatory framework. Outdated regul...
>> EU Regulators Watch Closely as FTX Disputes Backpack's Claims on FTX EU Purchase
Bankrupt cryptocurrency exchange FTX has refuted statements by Backpack about the acquisition of its European arm, FTX EU, clarifying that the deal has not received approval from the US Bankruptcy Court in Dela...
>> EU Crypto Regulations Stir Mixed Reactions as Portugal's Largest Bank Restricts Transfers
Portugal's leading financial institution, Banco de Investimentos Globais (BiG), has recently implemented restrictions on fiat transfers to cryptocurrency platforms, aligning with new EU directives. This change ...
>> Cracking Down on Crypto Crime: Dutch Law Student Arrested by Police in Multimillion-Euro Fraud Case
The Netherlands police have apprehended a 24-year-old law student suspected of masterminding a €4.5 million crypto fraud. This individual from Hengelo reportedly scammed approximately 300 investors before the s...
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
