In his last speech as chairman of the US Commodity Futures Trading Commission (CFTC), Rostin Behnam has emphasized the need to regulate the cryptocurrency sector.
He acknowledged this process will not happen overnight and that it will take time for Congress and federal agencies to develop and implement effective legislation.
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Behnam has stated that even after leaving office, he will continue to advocate for the CFTC to take action to fill the regulatory void in the cryptocurrency space.
When asked about the timeline for legislation, Behnam has said it will likely take six to ten months for Congress to deliberate and another year for federal agencies to promulgate rules.