CFTC Chairman: We Continue to Oversee Cryptocurrencies

Rostin Behnam, Chairman of the U.S. Commodities and Futures Commission CFTC. cryptocurrencies made critical statements about him.

Speaking at an event organized by the American Bar Association, Benham emphasized that the institution has implemented 69 different crypto sanctions to date. CFTC stated that they had fined 2 billion dollars last year and announced that the controls will be tightened in 2023.

Despite the limited mandate of the CFTC, the President believes that the stringent rules they have implemented have been successful for now. Except for the CFTC in the country SEC It also has the authority to impose sanctions on cryptocurrencies. The SEC has so far rejected applications for crypto mutual funds multiple times.

“Needs Extensive Editing”

Rostin Benham stated in the next part of his speech that they need to make a complete cryptocurrency regulation. The head of the CFTC is worried that a negative situation could leave the country’s borders and cause global damage.

“We must act in 2023. I will continue to contribute to the draft legislation in the congress studies.”

Several U.S. senators passed a new law last summer to allow crypto to fall under the jurisdiction of the CTFC. However, the country has a dual system of crypto regulation. After a long time, the SEC and CFTC still have not been able to work in harmony.

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