The top US derivatives watchdog has warned against a regulatory “gap” for cryptocurrencies and called for more scrutiny of political betting markets.
Rostin Behnam, chair of the Commodity Futures Trading Commission, told the Financial Times he would step down on January 20, the day of president-elect Donald Trump’s inauguration.
Behnam led the CFTC for four years as it finalised the first federal guidelines for carbon offsets and deepened scrutiny of crypto and so-called event contracts, including those allowing bets on elections. He oversaw the watchdog’s 2023 lawsuit against crypto exchange Binance, which led to a $4.3bn settlement with US authorities.
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