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Donald Trump’s transition team is interviewing candidates for the CFTC chair position, which is expected to play a crucial role in regulating the $3.5 trillion crypto industry. Among the candidates are Brian Quintez, Caroline Pham, and Marco Santori, with Quintez seen as a strong contender due to his crypto expertise. The Trump administration aims to create a regulatory-friendly environment for crypto, contrasting with the current SEC's enforcement-heavy approach.
Outgoing CFTC Chair Rostin Behnam, in his final remarks, urged for stronger cryptocurrency regulation, highlighting the risks posed by the merging of digital assets with traditional finance. He emphasized the need for clearer rules and warned that legislative progress could take six to ten months, followed by a year for rulemaking. Behnam's advocacy for regulatory oversight continues as he prepares to leave office, amid broader calls for reform from other financial regulators.
The U.S. crypto regulatory landscape is shifting dramatically as key officials, including Federal Reserve Vice Chair Michael Barr and CFTC Chair Rostin Behnam, announce their resignations. This change, coinciding with the upcoming inauguration of a pro-crypto administration, raises hopes for a more balanced regulatory approach that could ease pressures on the digital asset industry and clarify oversight roles. As the SEC also prepares for a leadership transition, industry leaders anticipate a reduction in stringent regulations that have previously stifled innovation and driven businesses offshore.
Outgoing CFTC Chairman Rostin Behnam has called for stronger and comprehensive regulation of cryptocurrencies in the U.S., highlighting a significant regulatory gap as mainstream adoption increases. He emphasized the CFTC's unique position to oversee digital assets and expressed concerns over unregulated platforms, particularly prediction markets, urging his successor to clarify permissible activities.
U.S. CFTC Chairman Rostin Behnam warned of significant regulatory gaps in the cryptocurrency market and announced his resignation effective January 20. Meanwhile, AI startup Anthropic is seeking $2 billion in funding, potentially raising its valuation to $60 billion. In other news, major Spanish banks are developing frameworks for cryptocurrency ETPs, and Telegram has increased its compliance with U.S. authorities, providing data on over 2,000 users in 2024.
Rostin Behnam will resign as Chair of the CFTC effective January 20, coinciding with President-elect Donald Trump's inauguration. During his tenure, Behnam advanced crypto oversight, leading to significant enforcement actions, including a record fine against Binance and settlements with the Winklevoss twins. Speculation about his successor includes pro-crypto candidates like Republican Commissioners Summer Mersinger and Caroline Pham, as well as former Commissioner Brian Quintenz.
CFTC Chairman Rostin Behnam plans to resign from his position on January 20, with his departure from the commission set for February 7. Behnam, who advocated for the agency to become the primary regulator for Bitcoin and oversee cryptocurrency exchanges, expressed pride in the commission's resilience amid various financial challenges.
CFTC Chairman Rostin Behnam will resign on January 20, with his departure from the commission set for February 7. During his tenure, he pushed for the agency to become the primary regulator of Bitcoin and cryptocurrency exchanges, although legislative efforts to expand its authority were unsuccessful. The next chair will face challenges in regulating digital assets and event contracts amid a shifting political landscape.
CFTC Chair Rostin Behnam will resign on Inauguration Day, with a departure from the agency set for early February. Nominated by Trump in 2017, Behnam advocated for expanded CFTC authority over crypto markets, highlighting the agency's limited regulatory power despite significant enforcement actions. His resignation opens the door for potential successors, including Caroline Pham and Summer Mersinger, both known for their engagement with the crypto industry.
CFTC Chairman Rostin Behnam will resign on January 20, 2025, amid an ongoing lawsuit against Kalshi over political betting contracts. His tenure was marked by a strong push for cryptocurrency regulation, including a $4.3 billion settlement with Binance and calls for clearer frameworks to protect investors. Behnam's departure raises uncertainties about the future of digital asset oversight and the commission's approach to innovative financial products.
Rostin Behnam
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Trump transition team interviews candidates for CFTC chair amid crypto regulation shift
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