Rostin Banham may take over as CFTC chairman
The administration of U.S. President plans to appoint Rostin Behnam, the acting chairman of the Commodity Futures Trading Commission (CFTC), to head the agency.
According to a Bloomberg publication citing unnamed sources familiar with the situation, Rostin Behnam was selected by the Joe Biden administration to chair the Commodity Futures Trading Commission.
Rostin Banham may take over as CFTC chairman
An official announcement by the government of Behnam's appointment could be made within weeks. Rostin Banham has served as CFTC chairman since January, when Heath Tarbert, the previous head of the agency, stepped down with the new administration.
The CFTC oversees the derivatives market, including cryptocurrency derivatives. In July 2017, former U.S. President Donald Trump appointed Banam as CFTC commissioner. Banham has spoken positively about the use of blockchain in financial markets and has previously called for an "open-minded approach" to financial technology regulation.
U.S. regulators are actively debating over who gets to regulate the cryptocurrency market.
While the chairman of the U.S. Securities and Exchange Commission (SEC) argues that the SEC needs more authority to regulate cryptocurrency markets, the former CFTC chairman believes the issue does not fall under the SEC's jurisdiction at all.
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