The Chairman of the U.S. CFTC discussed cryptocurrencies in his farewell speech, emphasizing the necessity of the CFTC as its regulatory body

The Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Rostin Behnam, will resign from his position on January 20th to make way for future appointees of President-elect Donald Trump. In his last public speech at the Brookings Institution this week, he discussed extensively about cryptocurrencies and the need to enhance CFTC as its regulatory body. Rostin Behnam stated that cryptocurrency "dominated every period of my term," saying: "Due to a lack of federal legislation, concerns about increased customer protection, fraud and market abuse behavior, broader market resilience and even financial stability are intensifying. We have seen this situation in history where we put a large amount of financial business outside supervision and responsibility, and time after time we see that the end result is very bad." He also urged protection for investors who are eager to include digital asset products in their portfolios.