Regulators Set to Crack Down on Crypto Amidst Market Recovery

Enforcement Actions on the Horizon

The head of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has warned that the crypto industry is facing a wave of regulatory enforcement in the coming months.

Protecting Investors

Behnam emphasized the need to protect investors in the absence of clear regulations. He stated, “Without a regulatory framework, you will continue to see fraud and manipulation.”

Bipartisan Support for Regulation

Behnam noted that there is bipartisan support among US lawmakers for crypto asset regulation. He said, “There’s a growing market, growing capital investment, and growing market capitalization, which has sparked renewed interest.”

Past Market Turmoil

Behnam acknowledged the negative events of 2022 that shook the industry, but emphasized that the market has shown resilience and is now experiencing growth.

Call for Regulatory Framework

Behnam urged regulators to prioritize consumer protection and fill regulatory gaps to create a framework that protects investors.