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CFTC Chair Predicts Tsunami Of Crypto Enforcement Actions In Next 2 Years

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As the US Securities and Exchange Commission (SEC) continues to scrutinize crypto industry players, including Robinhood, Binance, Coinbase, and Ripple, the Chair of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, warns of an impending surge in enforcement actions.

Crypto Faces Inevitable Wave Of Enforcement Actions

At the Milken Institute’s 27th annual Global Conference, Behnam emphasized the lack of regulatory framework and transparency within the growing crypto industry, which he believes will inevitably lead to more fraud and manipulation cases.

Behnam anticipates a “cycle of enforcement actions” within the next six months to two years, driven by the rapid appreciation of digital assets and heightened interest from retail investors.

As a regulator, Behnam expresses concerns about the absence of clear rules and tools typically employed by regulators to maintain market integrity. Without proper regulations in place, Behnam argues that fraud and manipulation will persist.

The recent issuance of a Wells Notice by the SEC against Robinhood further highlights the regulatory pressure faced by industry players.

Dan Gallagher, Chief Legal, Compliance, and Corporate Affairs Officer at Robinhood, expressed disappointment in the SEC’s decision, asserting that the assets listed on their platform are not securities. Gallagher remains confident in Robinhood’s position and its commitment to regulatory compliance.

SEC Commissioner Hester Peirce, on the other hand, is known for her pro-crypto stance. She has previously criticized the lack of clear rules and the SEC’s skeptical approach towards

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Author: Ronaldo Marquez

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