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CFTC chairman warns of 'void' in cryptocurrency and gambling regulation
Editor
2025-01-07 19:02 5,193
Golden Finance reported that according to the Financial Times, the U.S. Commodity Futures Trading Commission (CFTC) warned of the “gap” in the regulation of cryptocurrencies and called for increased scrutiny of the political betting market. CFTC Chairman Rostin Behnam said he will step down on January 20, the day Trump takes office. Behnam said he is concerned that regulation of digital assets, including Bitcoin and other cryptocurrencies, remains insufficient: “In the U.S. regulatory system, there is still a large part of the digital asset space that is unregulated, given that some traditional financial institutions have adopted There is huge demand for these products from retail and institutional investors, and we must fill this gap.” Behnam believes that many digital tokens are commodities and it is the agency’s “boundary duty” to regulate the cryptocurrency market. He also has concerns about the legality and social impact of betting on politics and other events, as the new market booms during the election period. He was "very concerned" about contracts related to elections, assassinations, terrorism and gambling. As technology and high demand drive the growth of these markets, "the lines between what's legal and what's illegal will become very blurred."
Keywords: Bitcoin
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