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CFTC Chairman Urges Congress to Fill Regulatory Gap in Digital Commodity Market

The Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Rostin Behnam, testified before Congress this week to highlight the need for federal regulation over the digital commodity market. Rostin Behnam emphasized the importance of protecting customers, ensuring market resilience and stability, and preventing contagion to the traditional financial system.

He also called for Congress to provide additional authority to the CFTC to regulate the digital commodity market, including measures focused on protection of customer assets, surveillance of trading activity, prohibitions on conflicts of interest, and imposition of stringent cybersecurity standards.

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