US Merchandise Trade Commission Chairman Rostin Behnam will step down later this month, he said said Tuesday in a statement.
Behnam plans to resign on Jan. 20 — the day President-elect Donald Trump is sworn in — and will leave the commission on Feb. 7. struggles with the incoming administration, which has promised to install more pro-crypto officials at the helm of several federal regulators.
“Over the past several years, many domestic and global events have tested the resilience of all financial markets,” Behnam said in a statement. “I am pleased to leave the CFTC and the derivatives markets stronger than before.” -never.”
Behnam did not mention the reason for his departure, which he announced only a day later Michael Barr has announced that he will step down as Vice Chairman of the Federal Reserve Board for Management because there is likely to be a political scandal over his resignation.
The CFTC is responsible for overseeing the derivatives markets, including crypto futures contracts and options.
As CFTC Chairman, Behnam teased making the commission the primary regulator of Bitcoin, giving it a major influence on the future of the US digital asset industry. “Unclear and inconsistent practices in the currency markets for digital assets.”
Trump is likely to replace Behnam with one of the Republican CFTC Commissioners at the Commission – Summer Mersinger or Caroline Pham, Reuters reported Tuesday.
Behnam is the latest of several governors appointed by President Joe Biden to leave their posts before Trump's inauguration. Securities Exchange Commission Chairman Gary Gensler indicated in November that it would step down on January 20, while two other Commissioners appointed by the Democrats also on the way out.
Edited by Andrew Hayward
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Source: https://decrypt.co/299878/cftc-chair-rostin-behnam-resign-regulator-exodus
