With formality departure announcement from US Commodity Futures Trading Commission Chairman Rostin Behnam, January 20 is now the official deadline of both heads of US markets regulators.
Behnam joined Securities and Exchange Commission Chair Gary Gensler in choosing the last day of President Joe Biden’s administration as their last day operating their respective agencies. As President-elect Donald Trump is sworn in again, his new administration will have new vacancies on top of those commissions.
“We welcome new opportunities to modernize, build capabilities, and, with the support of Congress, incorporate the innovations that shape our markets,” he said in a statement Tuesday about his departure, first from the presidency and later – next month – from the commission itself. Behnam noted that the CFTC under his tenure “responsibly engaged with new entrants to support change.”
He leaves the CFTC on the cusp of what is likely a future surge to take over regulation of crypto spot markets, including bitcoin trading (BTC). In most legislative efforts that have sought to establish US road rules for the crypto sector, the derivatives watchdog has been leading the charge. Behnam’s Republican replacement is likely to lead the new designation if Congress ultimately approves a bill.
While Behnam’s agency has gotten some credit from the crypto sector for being more reasonable than the SEC, it is also responsible for some of the heaviest enforcement action against digital asset businesses.
Read more: US CFTC Chair Behnam Says Regulator Will Pursue Kalshi Case
