Bloomberg names candidate for CFTC chairman post

The Biden administration plans to appoint Rostin Behnam as chair of the Commodity Futures Trading Commission (CFTC). Bloomberg reports, citing unnamed sources.

Behnam is currently serving as acting head of the regulator. According to sources cited by the publication, the appointment will be announced “in a few weeks”.

Earlier, Behnam suggested that cryptocurrencies “will become part of the economic practice of any country,” and will help reduce poverty and corruption. In his view, the industry needs balanced regulation.

In January 2021, the chairmanship of the CFTC was vacated by Heath Tarbert. Under his leadership the agency approved a definition of cryptocurrency delivery to the buyer, announced a contest to create tools for tracking unregistered derivative offers, and announced development of comprehensive regulation of digital assets.

In 2019 Tarbert said that cryptocurrencies do not threaten the financial system, unlike the global stablecoin. Later, the official urged accelerating the legalization of cryptocurrencies, and in regulatory matters to follow broader principles.

As reported, the media named leading candidate for the post of CFTC chairman, Georgetown University professor Chris Brammer.

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