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Biden's pick for CFTC chair wants the agency to be a 'beat cop' with the authority to oversee 60% of digital asset market
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Acting chairperson of the Commodity Futures Trading Commission, or CFTC, Rostin Behnam has likened the government agency’s enforcement of the digital asset space to a beat cop on duty.
At an Oct. 27 hearing of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry to assume his position on a permanent basis, Behnam said to chairperson Debbie Stabenow the CFTC has been “aggressively pursuing enforcement cases” in the crypto space for some time, including its $100 million case against crypto derivatives exchange BitMEX and the $42.5 million in fines it levied against Tether and Bitfinex. However, he asked that the committee consider expanding the authority of the CFTC given the emerging digital asset market.
“This is the tip of the
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