Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), has announced that he will leave his position on January 20, to coincide with the inauguration of President Donald Trump. Behnam will leave the committee permanently on February 7, giving Trump the chance to appoint a new chairman and paving the way for a potentially more crypto-friendly regulation.
CFTC’s rol onder Behnam
Behnam, a Democratic commissioner since 2017 and chairman since 2021, has led the CFTC during a period of growing interest in the regulation of digital assets. He was known for his advocacy to make the CFTC the primary regulator of Bitcoin and crypto exchanges. Under his leadership, the committee brought major lawsuits against crypto companies, including FTX and Binance, but its approach remained milder than that of SEC Chairman Gary Gensler.
In a statement, Behnam said he was proud of the steps the CFTC has taken: “Since 2017, it has been an honor and a privilege to serve the American public and the CFTC, first as Commissioner and then as Chairman.” However, he emphasized that regulation in the crypto world is still insufficient and that the US needs a clear regulatory structure.
Crypto Regulation in the Trump Era
Behnam’s resignation offers Trump the opportunity to appoint a chairman with a more pro-crypto stance. One of the current Republican CFTC commissioners, Summer Mersinger or Caroline Pham, is expected to take temporary charge. In addition, external candidates such as Brian Quintenz, a former CFTC commissioner and crypto advocate, have been mentioned as a possible permanent successor.
The incoming Trump administration has already hinted at plans to ease regulations on the crypto industry and boost innovation. Paul Atkins, a crypto-friendly lawyer, has been chosen by Trump to lead the SEC, signaling a broader shift toward a supportive stance toward digital assets.
Behnam’s legacy and challenges
Despite his support for better regulation in the crypto industry, Behnam has also taken strict measures. For example, he blocked platforms such as Kalshi Inc. that offered bets on political events. Although a court later ruled in Kalshi’s favor, Behnam warned that such bets carry legal and social risks.
“The line between legal and illegal will become increasingly blurred,” Behnam warned in an interview, citing growing event betting markets and consumer demand.
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Source: https://newsbit.nl/cftc-voorzitter-behnam-treedt-af-terwijl-trump-crypto-regelgeving-wil-hervormen/
