US Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam said that regulatory work on cryptocurrencies should be accelerated.
Rostin Behnam, in his statement before the House of Representatives Agriculture Committee on Wednesday, March 6, focused on the growing cryptocurrency market and recent rising prices focused.
CFTC In fiscal year 2023 enforcement actions More than 49% Stating that it is about cryptocurrencies, Behnam said that these cases are very consumes too many resources and noted that it will continue to consume unless regulatory clarity is achieved.
of Bitcoin and other As the value and adoption of cryptocurrencies increases Stating that the need for regulatory laws is also increasing, he warned the parliament to act quickly:
We need a regulatory structure. This is not about legitimizing technology. This is about protecting Americans and protecting investors.
Currently, the US parliament is trying to approve a bill called the Financial Innovation and Technology Act for the 21st Century. A decision has not been reached yet because the bill is comprehensive and focuses on a dynamic field such as technology, but there are disagreements and detailed research is required.
If the bill is accepted, it is expected to be implemented this year.