CFTC Head Warns of Possible Sanctions for Crypto Companies
Date: 2024-05-07 Author: Gabriel Deangelo Categories: IN WORLD
The head of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, expressed confidence that crypto companies will face new sanctions in the next few months to two years. The announcement, coming amid a market recovery and growing interest from major investors, highlights the need for legislative changes to regulate the industry.
New wave of regulatory measures
According to Behnam, US regulators are expected to tighten their control over crypto companies in the near future. He outlined a period of six months to two years as the time to expect a new wave of crackdowns on the cryptocurrency sector. This is due to increased activity in the market and growth in capitalization, which attracts the attention of both investors and regulators.
Difficulties in establishing a regulatory framework
Behnam noted that, despite the need for legislative changes, the approval of the regulatory framework in this area is a complex process. Until Congress passes legislation, regulators will have to rely on court decisions to regulate the cryptocurrency sector. But, as Behnam notes, time for this is limited, given the proximity of the next US presidential election.
Trends and controversies
The warnings come as regulators around the world intensify their crackdown on cryptocurrencies. Recent events, including notices from the SEC and congressional investigations, indicate increased oversight and scrutiny of this area of finance.
With the rapid development of the cryptocurrency industry and the growing influence of regulators, crypto companies must be prepared for new challenges and adapt to the changing environment. This highlights the need to adopt an effective and balanced regulatory framework that takes into account the interests of all stakeholders in the cryptocurrency industry.
