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Biden Administration to Pick Acting Chairman Rostin Behnam to Head CFTC: Report
The regulator is charged with overseeing derivatives market activity, including cryptocurrency derivatives.
U.S. President Joe Biden's administration reportedly plans to nominate Rostin Behnam, acting chairman of the Commodity and Futures Trading Commission (CFTC), to lead the regulator.
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- Bloomberg reported Friday Behnam has been selected to lead as the regulator's chairman, according to unnamed sources close to the matter.
- While an announcement might be weeks away, the White House's selection is a continuation of Behnam's role as acting chairman, which began in January.
- The regulator is charged with overseeing derivatives market activity including cryptocurrency derivatives.
- In July 2017, former U.S. President Donald Trump nominated Behnam as a commissioner of the CFTC. He was confirmed two months later.
- Behnam has spoken favorably on the use of blockchain technology in financial markets and previously called for an "open mind" on regulation in the fintech space.
Read more: CFTC Commissioner Says SEC Lacks Authority Over Commodities, Including ‘Crypto Assets’
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
