Rostin Behnam will be the next chair of the U.S. CFTC

Reportedly Rostin Behnam is nominated by the Biden administration to hire them for the chair of the Commodity Futures Trading Commission.

According to a Bloomberg report on 14 August, the top derivatives regulator position has been open since the beginning of this year. After the departure of Heath Tarbert in January, Authorities hired Rosting Behnam temporarily to work at the place of Tarbert, But they were not hired officially for the same. 

Now, Behnam will be nominated by the Biden administration officially in the incoming few weeks, as per information received from an anonymous person known in this matter, according to Bloomberg.

In a recent case under CFTC & FinCEN, where BiTMEX became ready to pay a $100 million fine for their services in derivatives trading. 

Behnam stated on this matter

“This case reinforces the expectation that the digital assets industry, as it continues to touch a broader pool of market participants, takes seriously its responsibilities in the regulated financial industry and its duties to develop and adhere to a culture of compliance”     

So clearly Behnam believes in taking things seriously and with a systematic culture system. 

In March 2021, Behnam also talked about the extended power to regulate the crypto market because of the increasing interest of retailer Investors. So from many points of view, Behnam seems a better option for this open slot in the chair of CFTC.

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