Since the beginning of cryptocurrencies, it has been said that Bitcoin and the entire crypto industry sooner or later will have to be regulated so that it can function and be available to the general public, who would thus have more security. In recent years, we have gradually seen various forms of regulation, and the chairman of the Commodity Futures Trading Commission, Rostin Behnam, recently commented on this topic. He claims that non-bank institutions, including crypto exchanges, are much more prosperous under regulation, as there is subsequently interest in them even among people who simply need this form of security.
“Growth might occur if we have a well-regulated space. (…) Bitcoin might double in price if there’s a CFTC-regulated market.”
A candidate for this position in terms of regulation is the Commodity Futures Trading Commission (CFTC), whose chairman Rostin Behnam explained why his agency should be the primary regulator of cryptocurrencies. As Coindesk reports, this happened during a discussion on September 29. Benham also announced that he has tasked the CFTC with preparing to become the lead and fully funded regulator for a significant portion of the cryptocurrency industry. We can thus see that many things are happening in the background, and even such fundamental news can end a persistent downtrend.
