U.S. CFTC Chairman: A wave of cryptocurrency enforcement cycles is expected in the next two years

BlockBeats news, May 7, according to The Block, Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission, said at the Milken Institute's 27th Annual Global Conference that as retail investor interest and the value of the cryptocurrency market rise, enforcement actions will also increase. He expects the next round of "enforcement action cycle" to appear in the next six months to two years.

Behnam said: "From my perspective as a regulator, we may see another round of enforcement action cycle in the next six to eighteen months or six to twenty-four months. This is because of this cycle of asset appreciation and retail investor interest. Without a regulatory framework, without transparency, without these tools that we usually use as regulators, fraud and manipulation will be rampant."

Behnam was asked about the possibility of the completion of the stablecoin bill during the discussion on Monday. "If we start giving a percentage, I still think it's quite low," Behnam said. He mentioned the reduction in the number of legislative days in Congress between the election season and the holidays. He added: "There's a lot of momentum, there's a lot of desire, and I think members of both parties and leadership of both parties will work hard, but it's very difficult to get legislation done right now."