The chair of the Commodity Futures Trading Commission, Rostin Behnam, recently highlighted the issue of Congress’s inaction around cryptocurrency regulations and predictive election betting. At the SIFMA meeting, Behnam discussed the need for setting up specific legal regulations for these developing industries.
CFTC Calls for Urgent Action on Crypto Regulations and Election Betting Laws
At the SIFMA annual meeting, CFTC Chair Behnam continued to stress his prior appeal to Congress to provide directives on it’s stance on cryptos regulation. Nevertheless, he criticized the existing legal environment mentioning the signs of fast movement and the growing popularity of digital assets. According to him, the framework does not have adequate coherence to effectively regulate cryptocurrency markets.
In addition, Behnam pointed out that there were gaps in the system due to the absence of proper crypto regulation. He noted the issue with the regulation of spot markets and with the potential
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