{"id":130201,"date":"2025-05-29T05:15:46","date_gmt":"2025-05-29T05:15:46","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130201"},"modified":"2025-05-29T05:15:46","modified_gmt":"2025-05-29T05:15:46","slug":"crypto-vulnerable-if-cftc-not-given-authority-says-ex-chair-behnam","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130201","title":{"rendered":"Crypto vulnerable if CFTC not given authority, says ex-chair Behnam"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsFormer Commodity Futures Trading Commission Chair Rostin Behnam has said the crypto market will remain unregulated unless the agency he led is given greater authority.<br \/>\nIn a May 28 Bloomberg TV interview, Behnam sided with the crypto industry on its long-standing argument that cryptocurrencies are commodities.<br \/>\n\u201cIf you look at existing law, the few largest tokens are commodities, which means the SEC does not have jurisdiction over those tokens, which include Bitcoin and Ether,\u201d he said.\u00a0<br \/>\nHe added that the Securities and Exchange Commission currently cannot properly regulate crypto because its law doesn\u2019t allow it to regulate commodities, and the CFTC cannot regulate because it is a derivatives regulator.<br \/>\nWithout new authority for the CFTC to regulate \u201ccash markets in digital assets, non-securities,\u201d this will remain an unregulated space, he claimed.<br \/>\nRostin Behnam on Bloomberg TV. Source: BloombergBehnam comments amid increasing scrutiny of the Trump family\u2019s crypto ventures, which include the crypto platform World Liberty Financial, memecoins and a stablecoin.<br \/>\nOn May 28, American political strategist and political commentator Sanders Townsend said Donald Trump is boosting his family\u2019s investments in cryptocurrency and \u201cis using the presidency to do it.\u201d<br \/>\nThe administration\u2019s involvement in the regulatory process and legislative effort is \u201craising red flags\u201d among some members of Congress, and there are \u201cwell-baked rules\u201d for any elected or appointed government official that need to be complied with, he said.\u00a0<br \/>\n\u201cUltimately, until we do something, the [crypto] market will remain unregulated. Customers, investors, retail and institutional, will be more vulnerable to harm, fraud, manipulation and conflicts of interest, until the market is regulated.\u201d\u00a0<br \/>\nRegulation critical to financial markets, says Behnam<br \/>\nBehnam also weighed in on Vice President JD Vance\u2019s speech at the Bitcoin 2025 conference, backing up the need for crypto regulations.\u00a0<br \/>\nRelated: Trump\u2019s use of presidential seal at memecoin event raises legal questions<br \/>\nVance said in a speech at the event that \u201cwe reject regulators\u201d and that crypto \u201chas a champion\u201d in the White House.\u00a0<br \/>\n\u201cRegulators are extremely important,\u201d Behnam said. \u201cThey\u2019re the reason American markets are the most desired in the world.\u201d\u00a0<br \/>\n\u201cConsumer protections and enforcement of the law are extremely critical to the health of our financial markets,\u201d he added.\u00a0<br \/>\nMagazine: Bitcoin bears eye $69K, CZ denies WLF \u2018fixer\u2019 rumors: Hodler\u2019s Digest<a href=\"https:\/\/cointelegraph.com\/news\/crypto-vulnerable-without-cftc-authority-rostin-beh?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsFormer Commodity Futures Trading Commission Chair Rostin Behnam has said the crypto market will remain unregulated unless the agency he led is given greater authority. In a May&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130201"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130201"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130201\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130201"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}