The leader of the CFTC testified in support of legislation to grant his agency more authority over crypto markets.The Commodity Futures Trading Commission Chair Rostin Behnam told senators Thursday that legislation before the Senate Agriculture Committee would give his agency more insight into how cryptocurrency markets function.
Sen. Dick Durbin asked Behnam how much additional money the regulatory agency would need to more closely regulate digital assets. Durbin, the second-highest ranking Democrat in the Senate, sounded skeptical. “I honestly believe you’re lowballing it,” he responded. Sen. Tina Smith asked Behnam about a potential divide between digital assets “regulated under different regimes” that trade side-by-side on the same platforms.
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