CFTC Commissioner Urges Regulators to Approach Fintech With an 'Open Mind'
Commissioner Rostin Behnam said G-20 regulators need to improve their understanding of rapidly changing fintech innovations and create regulations that mitigate industry risk.
October 29, 2018 at 03:30 PM
3 minute read
A commissioner of the Commodity Futures Trading Commission (CFTC) said regulators should keep an “open mind” when dealing with rapidly changing fintech companies.
Rostin Behnam, who was appointed to one of five CFTC commissioner roles in 2017, spoke to attendees at the 2018 ISDA Annual Japan Conference in Tokyo about the challenges he's seen regulating crypto assets, bitcoin and other technologies during his first year in office.
His Oct. 25 remarks come at a time of increasing CFTC enforcement activity, overall, and as the Securities and Exchange Commission, which views cryptocurrencies as securities, has ramped up scrutiny of fintech ventures. The SEC launched a fintech division last week to help increase focus on the industry.
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