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.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Kwon Proposes Forking Terra in ‘Revival Plan 2’

"$UST peg failure is Terra’s DAO hack moment - a chance to rise up anew from the ashes," Terraform Labs CEO Do Kwon said.

"$UST peg failure is Terra’s DAO hack moment - a chance to rise up anew from the ashes," Terraform Labs CEO Do Kwon said.

2
Bitcoin Struggles at $27K-$30K Support Zone; Resistance at $35K

BTC's upside appears limited despite short-term support.

BTC's upside appears limited despite short-term support.

3
Art in the Age of the Metaverse

4
Crypto Funds Saw Year's Highest Inflows as Terra Crisis Crashed Markets

Some $274 million flowed into digital asset funds as investors bought the dip, amid a broad crypto-market sell-off triggered by Terra's turmoil.

Some $274 million flowed into digital asset funds as investors bought the dip, amid a broad crypto-market sell-off triggered by Terra's turmoil.