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International Business Times
International Business Times
Business
Marvie Basilan

Biting Off More Than It Can Chew: Senator Doubts CFTC Can Oversee Digital Commodities

CFTC Rostin Behnam Dick Durbin Crypto Gary Gensler United States FTX
CFTC Chair Rostin Behnam told Sen. Dick Durbin that the regulatory agency has the necessary capacity to oversee markets it is "mandated" to regulate. (Credit: U.S. Senate Website Hearing Video/Screenshot)

KEY POINTS

  • Sen. Durbin said there is concern the CFTC is taking on something bigger than it can handle
  • Behnam snapped back, saying the CFTC is 'adequately equipped' to oversee the industry
  • Behnam was previously asked by two senators to explain his correspondence with SBF

The head of the U.S. Commodity Futures Trading Commission (CFTC) was grilled by a lawmaker Thursday over what the latter said were supposed concerns about the financial regulator's capability in overseeing the cryptocurrency sector.

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