The US CFTC Chair Rostin Behnam sees the coming up of regulatory actions among the high-priority tasks. CFTC Chairman Behnam shared these insights at the Milken Institute’s Global Conference in Los Angeles. He thinks crypto companies could be the main targets for enforcement actions in the next 6 to 24 months.
Behnam underlines that the versatility of the cryptocurrency market, finance, and the size of capitalization entice investors and further stimulate innovators. He emphasized the necessity for regulatory transparency and laws as alternative legal means of protection rather than lawsuits by regulatory entities.
American retail platform Robinhood got a Wells Note from the US Securities and Exchange Commission, suggesting that there might be enforcement action against its crypto trading. Furthermore, blockchain company Consensys also faced a Wells notice from the SEC as well as a summons for Ethereum transactions.
Also Read: Consensys Filed Lawsuit Against SEC Over Ethereum Regulation
Part of the increasing efforts of the legislators to work on filling the regulation void is being offset by numerous barriers making the process of passing crypto-related bills complex. Over the past year, federal leaders have been encountering regulatory uncertainty and debate on which agency to take charge of cryptocurrencies either CFTC or SEC.
