CFTC Already Preparing to Be Crypto Watchdog, Behnam Tells US Senators

Still, Behnam praised the legislation and its plan for additional agency funding that will allow the CFTC to “move swiftly” to establish the new oversight over digital commodity assets, which the courts, lawmakers and regulators conceded includes bitcoins, though other assets’ status are less clear. “All digital commodity platforms must maintain adequate financial, operational, and managerial resources, segregate customer funds, and comply with commission requirements for the treatment of customer assets,” Behnam said. “These tools have proven effective in preserving customer funds and market operations in times of instability, uncertainty, or market misconduct.”