What to Expect from the US CFTC’s Landmark Cryptocurrency Enforcement in 2023 | Cryptocurrency
What to Expect from the US CFTC’s Landmark Cryptocurrency Enforcement in 2023 | Cryptocurrency
U.S. Commodity Futures Trading Commission Chairman Rostin Behnam spoke about the agency’s ambition to introduce a landmark cryptocurrency app in 2023. In his speech to the American Bar Association, Behnam emphasized the need for constant and thoughtful regulation. The Senate Banking Committee will convene a hearing on Feb. 14 and discuss security measures following the collapse of FTX and the collapse of Terra-LUNA. U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam said he will continue his efforts to force the agency to regulate cryptocurrencies, i.e. fiat tokens. In his speech to the American Bar Association, Behnam said that the CFTC is well positioned to fill the regulatory gap in cryptocurrencies.
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US CFTC Prepares to Close Cryptocurrency Regulation Gaps In a recent speech by CFTC Chairman Rostyn Behnam at an American Bar Association event, the chief executive revealed that recent crypto “bankruptcies, crashes, and leaks” called on Congress to grant the agency the authority to regulate crypto.
The commission is “well positioned” to fill in any regulatory gaps, but relies on US lawmakers to pull the trigger on legislation. Behnam argued that lawmakers urgently need to write laws and prevent disruptions that cannot be predictably contained within domestic and global financial markets.
CFTC is ready to work with the new Congress in the development of cryptocurrency legislation Behnam assured market participants that the agency will continue to engage with the upcoming Congress and provide technical assistance in developing non-securities legislation. The CFTC’s subsidiary, the Securities and Exchange Commission (SEC), has repeatedly denied requests to set up a BTC spot exchange-traded fund.
The SEC’s motive for not listing a Bitcoin ETF is that the underlying market is open to manipulation. The CFTC currently has jurisdiction over the US derivatives markets, including Bitcoin futures.
In this video you will find 3 best cryptocurrencies to buy and hold in 2023:
