The increased oversight by the US Securities and Exchange Commission (SEC) towards the crypto industry has prompted both the community and regulators to question the approach taken by the US watchdog.
In a recent testimony before the US House Committee on Agriculture, the Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, highlighted the need for Congressional action to address the lack of federal regulation over the digital commodity market.
“Regulation by Enforcement” Is Unsustainable
Behnam emphasized that bringing this volatile market out of the shadows and into the regulatory fold would protect customers, ensure market resilience and stability, and prevent contagion to the traditional financial system.
Behnam further claimed that the events over the past year have added urgency to these recommendations, as the bankruptcy of several large digital asset platforms…
