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International Business Times
International Business Times
Business
Nica Osorio

CFTC Chair Pushes For Sweeping Regulatory Overhaul After Landmark US Bitcoin ETF Approval

CFTC Rostin Behnam United States Bitcoin SEC Cryptocurrency

KEY POINTS

  • Behnam said last month some crypto assets constitute commodities under existing laws
  • He also acknowledged the ongoing turf war between CFTC and SEC
  • Behnam said the approval of Bitcoin ETFs introduces risks

In less than a month after the U.S. Securities and Exchange Commission (SEC) approved 11 spot Bitcoin exchange-traded funds (ETFs) in the country, Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam raised significant concerns about the newly approved cryptocurrency investment vehicle and called for a federal-level legislation to regulate the dynamic cryptocurrency landscape.

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