CFTC chief Rostin Behnam steps down, urges stronger crypto oversight

Key Takeaways

Rostin Behnam will step down as CFTC chairman on January 20 after a tenure marked by high-profile enforcement actions in crypto and calls for stronger oversight.
Behnam emphasizes the importance of disciplined digital asset management and a new focus on closing the regulatory gap in crypto markets.

Rostin Behnam will step down as chairman of the US Commodity Trading Commission (CFTC) on January 20, as announced in statement published by the CFTC.

His four-year term was marked by increased enforcement in digital assets and calls for stronger regulatory oversight.

During his tenure, Behnam oversaw the group's expansion into emerging markets and secured a $4.3 billion settlement with Binance to operate an unlicensed derivatives platform in the US.

The CFTC also finalized federal guidelines for carbon offset trading under his leadership.

“Many digital tokens qualify as commodities and should be under the jurisdiction of the CFTC,” Behnam said, advocating for a disciplined approach to rulemaking in the crypto space.

He described the current regulatory landscape as “inadequate” and pushed for legislation to position the CFTC as the primary regulator of Bitcoin and crypto exchanges.

According to s Bloomberg report published in December 2024, Brian Quintenz, a former CFTC commissioner, has emerged as a leading candidate for Behnam's success.

He is currently head of policy at Andreessen Horowitz's crypto division, a16z.

Quintenz served at the CFTC from 2017 to 2021, where he advocated for financial innovation in digital assets.

The next CFTC chairman will inherit ongoing challenges in regulating digital assets and event contracts, as well as overseeing offshore betting platforms.