CFTC Chairman: The collapse of FTX has not changed the cryptocurrency market, hopes Congress will support CFTC regulation of the cryptocurrency market

ChainCatcher News, U.S. CFTC Chairman Rostin Behnam stated in an interview with CNBC that the current cryptocurrency landscape has not changed since the FTX collapse and may face another FTX-type event. The CFTC lacks the authority to comprehensively regulate the digital commodity market.

To prevent this from happening again, Congress must provide the CFTC with appropriate powers. The CFTC Chairman had urged the Senate Banking Committee in December 2022 that lawmakers need to take swift regulatory action to establish guardrails and mitigate risks; otherwise, cryptocurrencies will be unsafe for investors and could pose greater risks.