U.S. Commodity Futures Trading Commission Chairman Rostin Behnam has formally announced his departure, making January 20 the official last day for both heads of the U.S. markets regulators.
Behnam will join Securities and Exchange Commission Chair Gary Gensler in leaving his post on the final day of President Joe Biden's administration, as President-elect Donald Trump is sworn in and his new administration takes over. In a statement regarding his exit, Behnam expressed gratitude for the opportunities to modernize and build capabilities, and noted that the CFTC has "responsibly engaged new entrants to support innovation" during his tenure. As he departs, the CFTC is poised to potentially take on the regulation of crypto spot markets, including bitcoin trading. Behnam's replacement will likely play a key role in shaping this new regulatory landscape.
Despite receiving credit from the crypto sector for being more reasonable than the SEC, the CFTC has also been responsible for significant enforcement actions against digital assets businesses.