Legislation needed to regulate crypto, CFTC Chair Behnam says, citing crypto’s recent uptick in value | Headlines | News | CoinMarketCap
03/07/2024 02:52
Cryptocurrency related issues are consuming the Commodity Futures Trading Commission's resources as its Chair Rostin Behnam again urged lawmakers to …
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Published on March 06, 2024 19:43 GMT+00:00edited on March 06, 2024 19:44 GMT+00:00
Cryptocurrency related issues are consuming the Commodity Futures Trading Commission's resources as its Chair Rostin Behnam again urged lawmakers to act on legislation that would give the agency new authorities over the industry.
More than 49 percent of the CFTC's enforcement actions in fiscal year 2023 were related to digital assets, and the market is continuing to grow, Benham said on Wednesday as he testified before the House Agriculture Committee.
"It's a staggering statistic that a market we don't directly regulate is taking up half of our enforcement docket and it's not just the Division of Enforcement's resources that are consumed," Behnam told lawmakers. "We need the experts from the different divisions to build a case."
Behnam also pointed to the recent increase in …