In a Senate Appropriations Committee hearing on Thursday, Democratic Senator Dick Durbin from Illinois expressed concerns that the Commodity Futures Trading Commission (CFTC) may have taken on more responsibility than it can handle following the passage of the FIT21 bill in the House of Representatives. Durbin questioned CFTC Chairman Rostin Behnam on how the CFTC could effectively regulate the rapidly changing and vast world of cryptocurrencies. Behnam mentioned that there are regulatory loopholes for “non-securities commodity tokens” and that the CFTC has been effective in enforcing actions against cryptocurrency entities.
Tags: CFTC, FIT21, SEC, regulation
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