CFTC Chair Rostin Behnam to step down and urges crypto regulation

Rostin Behnam, the current chair of the US Commodity Futures Trading Commission (CFTC), will step down on January 20, marking the end of his four-year tenure.

His leadership has been highlighted by significant enforcement actions in the crypto sector, including the high-profile $4.3 billion settlement with Binance.

Behnam has consistently raised concerns about the lack of regulatory oversight in the digital asset market.

He described current crypto regulation as “insufficient,” noting that large parts of the sector remain unregulated in the US.

As he prepares to leave office, he emphasised the urgent need for stronger oversight to ensure market integrity and address the growing demand for crypto adoption.

During his time at the CFTC, Behnam played a role in finalising federal guidelines for carbon offset trading and increasing the agency’s oversight of digital assets.

He also pursued legal action against Binance for operating as an unlicensed crypto derivatives platform in the US.

Behnam highlighted the “regulatory gap” in the crypto space, asserting that many digital tokens qualify as commodities and should fall under the CFTC’s jurisdiction.

He called for a disciplined, law-driven approach to regulating the sector, urging his successor to focus on providing clearer guidelines for what is permissible and impermissible in the crypto market.

Brian Quintenz, a former CFTC commissioner and current head of policy at Andreessen Horowitz’s crypto division, a16z,, has been suggested as the leading candidate to replace Behnam.

Quintenz has advocated for financial innovation in the digital asset sector and could influence how the CFTC addresses jurisdictional issues in the evolving crypto landscape.