The US presidential administration plans to appoint Rostin Banham, acting chairman of the Commodity Futures Trading Commission (CFTC), as head of the agency.
According to a Bloomberg publication citing unnamed sources familiar with the situation, Rostin Behnam was selected by the Joe Biden administration as chairman of the Commodity Futures Trading Commission.
An official government announcement about Benham’s appointment could be made in a matter of weeks. Rostin Banham has been acting CFTC chairman since January, since the agency’s previous head, Heath Tarbert, stepped down with the new administration.
The CFTC oversees the derivatives market, including cryptocurrency derivatives. In July 2017, former US President Donald Trump appointed Banam as CFTC Commissioner. Banham has praised the use of blockchain in financial markets and has previously called for an “open minded attitude” towards financial technology regulation.
American regulators are actively arguing about who will get the regulation of the cryptocurrency market. While the chairman of the US Securities and Exchange Commission (SEC) argues that the SEC needs more power to regulate the cryptocurrency markets, the former CFTC chairman believes the matter does not fall under the jurisdiction of the SEC at all.
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