Rostin Behnam, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced to the Financial Times that he will step down on January 20, the day of the U.S. presidential inauguration of Donald Trump.
During his four-year tenure, Behnam led the CFTC in developing the first federal carbon offset guidelines and strengthened scrutiny of cryptocurrencies and so-called event contracts, including those allowing bets on elections. He also oversaw the CFTC’s 2023 lawsuit against the cryptocurrency exchange Binance, which ultimately resulted in a $4.3 billion settlement agreement with U.S. authorities.
However, in his interview with the Financial Times, Behnam expressed concerns about the inadequate regulation of digital assets, including Bitcoin and other cryptocurrencies. He stated:
“Trump has already chosen Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC), but he has not yet nominated a successor for Behnam.” According to Bloomberg, Brian Quintenz, the policy head of a16z crypto, the cryptocurrency division of venture capital firm Andreessen Horowitz, has emerged as a leading candidate to lead the CFTC.
Related article: “JPMorgan: Selection of CFTC Chairman Particularly Important, Could Play Crucial Role in Regulating Bitcoin and Ether”
