Commodity Futures Trading Commission Chair Rostin Behnam honed in on the need to oversee decentralized finance in a speech on Monday, comparing the situation to “unlicensed physicians.”

Behnam’s prepared remarks at the Futures Industry Association Expo in Chicago, come about a month after the agency said it settled charges against DeFi protocols Opyn, ZeroEx, and Deridex over registration violations. 

“To suggest that … we must wait until victims suffer and cry out for help to be proactive and ensure that critical market oversight, robust cybersecurity and system safeguards, and customer protections are in place undermines our mission and purpose,” Behnam said. “If you require an analogy, think about whether you would be comfortable on the road if only some individuals were …