U.S. Agriculture Committee members send letter to CFTC chairman calling for stronger cryptocurrency regulation

In a letter sent to Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, a bipartisan group of lawmakers called on the U.S. derivatives regulator, the CFTC, to do more to regulate cryptocurrencies, Jan. 13.

Top Democrats and Republicans on the U.S. Senate and House Agriculture Committees said the Commodity Futures Trading Commission could play a key role in regulating digital assets.

They asked Rostin Behnam to answer a series of questions, including the size and scope of the crypto market, crypto crime and how it differs from traditional financial market crime, and the CFTC's powers "to protect customers and ensure market integrity." MPs including Debbie Stabenow, John Boozman, David Scott and GT Thompson said "customers must be protected from fraud and encroachment and these markets must be fair and transparent."