Crypto vulnerable if CFTC not given authority, says ex-chair Behnam
Rostin Behnam, former Chair of the Commodity Futures Trading Commission (CFTC), stated that the crypto market will remain unregulated without expanded authority for the CFTC. He argued that major cryptocurrencies like Bitcoin and Ether are commodities, placing them outside the SEC's jurisdiction. Current laws prevent the SEC from regulating commodities, while the CFTC focuses on derivatives. Behnam emphasized that without new regulatory powers for cash markets in digital assets, the crypto space will remain unregulated, exposing investors to risks. He supported Vice President JD Vance's call for crypto regulations, asserting that regulation is essential for consumer protection and the integrity of financial markets. Concerns were raised regarding the Trump family's involvement in crypto ventures and potential conflicts of interest.
