CFTC Chair Says Bitcoin May “Double Its Price” If They Oversee Crypto

CFTC Chairman Rostin Behnam asserts crypto will thrive under clear regulations.

CFTC Chairman Rostin Behnam opined Wednesday that crypto will attract a lot of institutional inflow if there’s a regulatory structure.

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CFTC-led crypto regulations could even boost the price of bitcoin, according to Behnam.

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In a fireside chat at NYU School of Law, CFTC chairman said that CFTC’s budget is currently too limited to effectively monitor the crypto industry.

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Behnam argued that regulatory clarity could pave the way for institutional investors to enter the market.

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Several in the crypto industry are also in favor of CFTC overseeing crypto instead of the SEC.

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FTX CEO Sam Bankman-Fried is openly lobbying for CFTC to regulate the crypto industry.

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Behnam showed support for the bipartisan bill that seeks to enable CFTC to regulate cryptocurrencies.

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