Over Half of CFTC Enforcement Actions Are in Crypto...Abuse Still Rampant, US Senator Says

IconCryptoNewsTerminal Staff10 Jul, 2024

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Over Half of CFTC Enforcement Actions Are in Crypto...Abuse Still Rampant, US Senator Says

In a Senate Agriculture Committee hearing on digital asset regulation, US Senator Cory Booker (D-NJ) asserted that "half of the enforcement actions brought by the CFTC are crypto related...[the] market is still rife with abuse.” CFTC Chairman Rostin Behnam countered that "it's hard for us to regulate a market that we don't have jurisdiction over and that we don't have the funding that we need to regulate a market that's trillions of dollars," adding that "70-80% of crypto is not a security," per Fox Business reporter Eleanor Terrett.

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