Key Takeaways
Rostin Behnam will step down as CFTC chair on Jan. 20 after a tenure marked by high-profile enforcement actions in crypto and calls for stronger oversight. Behnam stresses the importance of disciplined digital asset regulation and a renewed focus on closing the regulatory gap in crypto markets. Rostin Behnam will step down as chair of the US Commodity Futures Trading Commission (CFTC) on Jan. 20, as announced in a statement published by the CFTC. His four-year term was marked by heightened enforcement in digital assets and calls for stronger regulatory oversight. During his tenure, Behnam oversaw the agency’s expansion into emerging markets and secured a $4.3 billion settlement with Binance for operating 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 fall under the CFTC’s jurisdiction,” Behnam has stated, advocating for a disciplined approach to rule-making in the crypto space. He described the current regulatory landscape as “insufficient” and pushed for legislation to position the CFTC as the primary regulator of Bitcoin and crypto exchanges.
According to a Bloomberg report published in December 2024, Brian Quintenz, former CFTC commissioner, has emerged as a leading candidate to succeed Behnam. He is currently the 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 chair will inherit ongoing challenges in regulating digital assets and event contracts, as well as oversight of offshore betting platforms.