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U.S. Regulators Considering Plan B If Congress Fails to Act on Crypto

  • CFTC chairman says agencies discussing alternative solutions
  • Says CFTC would be a tough regulator for crypto market
Commodity Futures Trading Commission Chairman Rostin Behnam

Commodity Futures Trading Commission Chairman Rostin Behnam

Photographer: Andrew Harrer/Bloomberg

Financial market regulators are considering steps they could take to rein in the crypto market if Congress doesn’t pass legislation, the head of Wall Street’s top derivatives regulator said. 

“In the absence of clear direction from Congress, which I know they’re working on, it’s our responsibility to work together and to come up with solutions to the extent that we’re able to within the authority that we currently have,” Commodity Futures Trading Commission Chairman Rostin Behnam said Monday in an interview with Bloomberg News.