- Behnam’s final day on the Fee shall be February 7
- The CFTC obtained a $12.7 billion judgment towards the now-defunct FTX alternate 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 an announcement launched by the company, Behnam added that his final day on the Fee shall be February 7. Behnam, who has been a Democratic commissioner on the CFTC since 2017 and as Chair since 2021, mentioned:
“Over the past several years, a multitude of domestic and global events tested the resilience of all financial markets. I am proud that the Commission consistently made deliberate and intentional decisions to ensure continued strength. We worked to address regulatory gaps and uncertainty. We also responsibly engaged new entrants to support innovation.”
Not like the harder stance taken by the US Securities and Change Fee (SEC) towards the crypto market, the CFTC has taken a lighter strategy. This although it obtained a $12.7 billion judgment towards the now-defunct FTX alternate and Alameda Analysis final 12 months.
Behnam, who has advocated for crypto regulation, mentioned that regulation within the crypto market is missing, calling for a must “fill this gap,” given the rising adoption seen by conventional monetary establishments and retail and institutional traders.
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 steer 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 few 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 making ready to go away the company on January 20. Commissioner Jaime Lizárraga may even be stepping down later this month.
