An urgent plea from a top former regulator presses Congress to act now, warning that inaction on crypto oversight endangers millions amid rampant fraud and market disorder.
Former CFTC Chair Urges Congress to Act Now as Crypto Regulation Void Endangers Millions.
Rostin Behnam, former chairman of the U.S. Commodity Futures Trading Commission (CFTC) and now a Distinguished Fellow at Georgetown University’s Psaros Center, issued a strong appeal for Congress at a joint congressional hearing on May 6 to close what he called a dangerous regulatory gap in the oversight of digital assets. The gap refers to the absence of federal oversight for digital assets that are not classified as securities, leaving much of the cryptocurrency spot market outside the regulatory authority of both the CFTC and the U.S. Securities and Exchange Commission (SEC).
