Rostin Behnam has announced his resignation as commissioner of the U.S. Commodity Futures Trading Commission (CFTC), concluding nearly eight years of service that included both his current role and his previous position as chair.
His final day with the agency will be February 7, marking a significant transition since he joined the commission in 2021.
Notably, President Donald Trump has not yet named a successor to take Behnam’s place.
Transition in CFTC Leadership
Behnam had earlier expressed that he would step down from his chairmanship at the same time as Trump’s inauguration, which has permitted Caroline Pham to take over as acting chair.
However, since Trump took office on January 20, he has yet to announce a nominee to fill Behnam’s vacancy.
This delay leaves the CFTC with an evenly split board of Republican and Democratic commissioners.
Speculations are rife that Trump might choose former CFTC commissioner Brian Quintenz for the role, but the White House has not confirmed any nominations as of now.
Regulatory Changes Ahead
Under Pham’s leadership, which is still in its early stages, the CFTC is already signaling a change in its regulatory posture.
The agency is shifting its emphasis away from aggressive enforcement and is also looking to update its strategic framework.
Traditionally, the CFTC has pursued legal actions against several cryptocurrency firms, including major players such as Binance, Uniswap Labs, and Celsius Network.
Broader Implications for Financial Oversight
In a heartfelt message before stepping down, Behnam called on U.S. lawmakers and policymakers to establish robust regulatory frameworks for the cryptocurrency industry, reaffirming his commitment to championing the CFTC’s mission even post-resignation.
In a related development, the Securities and Exchange Commission (SEC), another critical financial watchdog in the U.S., has reported that it currently has only three of its five commissioner seats filled as of February 7.
This comes after resignations from Chair Gary Gensler and Jaime Lizárraga.
Commissioner Mark Uyeda, who was appointed by Trump, is now acting chair while waiting for Senate discussions on the potential return of former Commissioner Paul Atkins.
During Uyeda’s brief period in the role, the SEC unveiled plans to create a dedicated task force focused on developing a regulatory framework for digital assets.
This initiative is separate from a crypto working group that Trump ordered on January 23, as Republican lawmakers in both the House and Senate work together to scrutinize legislative measures related to stablecoins and the broader market structure.
Source: Cointelegraph
