CFTC Chief: Agency Lacks Power to Prevent Another Crypto Collapse Like FTX
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CFTC head says the agency has no more power to prevent another crypto collapse like FTX despite its implosion.
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Behnam notes the crypto investing enthusiasm has calmed since FTX's demise.
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The CFTC has limited authority over spot crypto markets unlike derivatives where it can oversee firms directly.
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Legislation to expand CFTC's authority over cash crypto markets is stalled in Congress.
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Behnam wants to avoid CFTC having to monitor elections if prediction markets on outcomes are allowed.