Attention has turned to Commodity Futures Trading Commission Chairman Rostin Behnam amid the collapse of FTX as he prepares to face lawmakers Thursday.
Rostin Behnam, chairman of the Commodity Futures Trading Commission, speaks during an event at Georgetown University on Oct. 17, 2022.
"In my opinion, there are important principles missing from the current regulatory framework applicable to digital asset markets that we see in other federally regulated markets, particularly ones that primarily cater to retail investors," Behnam wrote in a letter to Stabenow, Agriculture Committee ranking member John Boozman, R-Ark., and leaders on the House Committee on Agriculture in February.
"FTX recommends broadening the CFTC’s jurisdiction to include, at a minimum, all spot transactions in digital assets involving retail investors, regardless of whether the transactions currently fall within CFTC’s jurisdiction," Bankman-Fried told the lawmakers on the committee.
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