Rostin Behnam, the chair of the US CFTC, considers the impending regulatory steps to be among the top priorities. These observations were shared by CFTC Chairman Behnam at the Milken Institute’s Global Conference in Los Angeles. In the next six to twenty-four months, he believes that enforcement measures may mostly target cryptocurrencycurrency enterprises.
Behnam emphasizes how investors and innovators are further encouraged by the cryptocurrencycurrency market’s adaptability, finance, and capitalization scale.
In contrast to legal actions by regulatory bodies, he underlined the need for laws and regulatory transparency as substitute legal measures of protection.
Legislators are working harder than ever to remedy the regulatory gap, but the process of drafting laws pertaining to cryptocurrencycurrencies is complicated by a number of obstacles. Federal policymakers have faced confusion over regulations and disagreement over the past year regarding which agency, the SEC or the CFTC, should be in control of cryptocurrencycurrency regulation.
SEC Issues Wells Notice to Robinhood and ConsenSys
The US Securities and Exchange Commission, S. E. C., sent a Wells Note to American retail platform Robinhood indicating that potential enforcement action against its cryptocurrencycurrency trading may occur. In addition, the SEC issued a Wells notice to blockchain startup Consensys and issued a summons for Ethereum transactions.
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