Rostin Behnam, Chairman of the U.S. Commodity Futures Trading Commission, is in the Senate today. cryptocurrency Talking about units.
Sending a letter to the committees in the US House of Representatives and the Senate before the speech, Benham made important statements.
Benham’s letter cryptocurrency He used the following statements about his units:
“We’ve seen that the CFTC can be successful in overseeing a wide variety of markets by focusing on the fundamentals. We have no reason to think that the same principles cannot be applied to digital asset markets.
The CFTC focuses on reducing risks to individual investors and promoting market integrity.”
Stating that participation in crypto money markets is twice as high as participation in other markets, Benham emphasized the urgency of regulations for cryptocurrencies.
Speaking before the Senate today, Benham continued his important statements regarding cryptocurrencies and Bitcoin.
“Bitcoin is Commodity”
Some of Benham’s statements, completing his opening speech, are as follows:
“CFTC climate unit, of bitcoin was commissioned to study the impact on the climate.
Due to limited authority, we cannot see much of what is happening in the cryptocurrency markets.
The best action Congress can take to protect investors would be to introduce a regulatory framework.
The CFTC is currently cryptocurrency It does not have the resources to control its markets. A $100 million budget might be good for a start.
He’s been working with the White House for a while. I’m not sure when the executive order will be issued.
Some cryptocurrencies are store of value. Bitcoin is most often compared to gold.
According to the 2018 court decision bitcoin it is a commodity.
We must operate on the assumption that this technology will continue to grow.
We will need more authority and rest assured we are well suited for the job.”