Biden Administration to Pick Acting Chairman Rostin Behnam to Head CFTC: Report

The regulator is charged with overseeing derivatives market activity, including cryptocurrency derivatives.

Aug 16, 2021 at 2:52 a.m. UTC
Updated Sep 14, 2021 at 1:40 p.m. UTC

U.S. President Joe Biden's administration reportedly plans to nominate Rostin Behnam, acting chairman of the Commodity and Futures Trading Commission (CFTC), to lead the regulator.

  • Bloomberg reported Friday Behnam has been selected to lead as the regulator's chairman, according to unnamed sources close to the matter.
  • While an announcement might be weeks away, the White House's selection is a continuation of Behnam's role as acting chairman, which began in January.
  • The regulator is charged with overseeing derivatives market activity including cryptocurrency derivatives.
  • In July 2017, former U.S. President Donald Trump nominated Behnam as a commissioner of the CFTC. He was confirmed two months later.
  • Behnam has spoken favorably on the use of blockchain technology in financial markets and previously called for an "open mind" on regulation in the fintech space.
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