- Behnam’s final day on the Fee might be February 7
- The CFTC obtained a $12.7 billion judgment in opposition to the now-defunct FTX trade and Alameda Analysis in 2024
Rostin Behnam, the US Commodity Futures Buying and selling Fee (CFTC) Chair, will step down on January 20 as President-elect Donald Trump enters the White Home.
In a press release launched by the company, Behnam added that his final day on the Fee might be February 7. Behnam, who has been a Democratic commissioner on the CFTC since 2017 and as Chair since 2021, stated:
“Over the previous a number of years, a mess of home and international occasions examined the resilience of all monetary markets. I’m proud that the Fee persistently made deliberate and intentional selections to make sure continued energy. We labored to deal with regulatory gaps and uncertainty. We additionally responsibly engaged new entrants to assist innovation.”
Not like the harder stance taken by the US Securities and Trade Fee (SEC) in opposition to the crypto market, the CFTC has taken a lighter strategy. This although it obtained a $12.7 billion judgment in opposition to the now-defunct FTX trade and Alameda Analysis final yr.
Behnam, who has advocated for crypto regulation, stated that regulation within the crypto market is missing, calling for a must “fill this hole,” given the growing adoption seen by conventional monetary establishments and retail and institutional buyers.
No successor named but
Trump has but to call Behnam’s successor; nevertheless, a December report from Bloomberg indicated that Brian Quintenz, a former CFTC Commissioner, is within the working to guide the company.
Quintenz at present leads coverage at a16z Crypto, the digital asset arm of enterprise capital Andreessen Horowitz.
Behnam’s resignation comes amid quite a lot of different company officers resigning forward of Trump’s reappointment to the White Home. Yesterday, it was reported that the US Federal Reserve’s vice chair for supervision Michael Barr is stepping down on February 28.
Gary Gensler, Chair of the SEC, is getting ready to depart the company on January 20. Commissioner Jaime Lizárraga can even be stepping down later this month.
