CFTC Chair Rostin Behnam Expresses Optimism For Potential Upcoming Crypto Legislation
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The Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam expressed optimism on October 21 that Congress could pass crypto legislation in the United States following the 2024 U.S. presidential election.
“I think as we look into 2025 – a new congress, a new president – that you’re likely going to see some legislation,” Behnam told audiences.
I look forward to speaking at the SIFMA Annual Conference in New York today.
The CFTC chair allegedly told Law360 that he predicts that formal crypto legislation will not gain traction until 2025.
“I’m not betting on anything happening at the end of the year, but there’s a unique appetite that this election, I think, has changed around digital assets and technology,” Behnam reportedly told the legal media outlet.
Additionally, he said the federal agency is “really handcuffed” when it comes to handling the crypto sector, leading to “vulnerable customers” and a “really vulnerable market.”
Benham’s comments come amid a growing spotlight on effectively policing digital assets, with Republican nominee Donald Trump and Democratic nominee Kamala Harris both attempting to court the blockchain sector in the runup to Election Day.
Meanwhile, U.S. lawmakers have made several attempts to advance a crypto policy framework, albeit to no avail.
In May, the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21) to provide federal guidelines for the digital asset industry.
“FIT21 is a first step to establish a regulatory framework for digital assets –
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