– Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam emphasized the need to regulate decentralized finance (DeFi) in a speech.
– Behnam compared the situation to “unlicensed physicians,” highlighting the importance of market oversight and customer protections.
– The CFTC recently settled charges against DeFi protocols Opyn, ZeroEx, and Deridex for registration violations.
– Coinbase CEO Brian Armstrong criticized the CFTC’s enforcement actions and urged the protocols to take the cases to court.
– The CFTC’s Enforcement Director Ian McGinley has identified unregulated DeFi exchanges as a significant threat to regulated markets and customer protection.
Commodity Futures Trading Commission Chair Rostin Behnam emphasized the importance of regulating decentralized finance (DeFi) in a speech at the Futures Industry Association Expo. Behnam compared the situation to trusting unlicensed physicians for healthcare. This comes after the CFTC settled charges against DeFi protocols Opyn, ZeroEx, and Deridex for registration violations. Some have criticized the agency’s enforcement actions against these protocols, including Coinbase CEO Brian Armstrong, who urged them to take the cases to court. The CFTC’s Enforcement Director Ian McGinley has also expressed concerns about unregulated DeFi exchanges being a threat to the markets protected by the agency.
This is sponsored by: Learn Bitcoin Option