🚨🚨🚨🚨🚨 ATTENTION 🚨🚨🚨
"CFTC Chair Rostin Behnam Sets Ambitious Goal: Crafting Crypto Regulatory Framework in 12 Months with FIT Act Approval
In an annual address to the House Agriculture Committee, CFTC Chair Rostin Behnam expressed optimism about creating a comprehensive regulatory structure for the crypto industry within a year, contingent on the passage of the Financial Innovation and Technology Act for the 21st Century (FIT Act) by Congress. Behnam highlighted the urgency in addressing regulatory gaps in the crypto sector, particularly around bitcoin (BTC), and urged lawmakers to consider the FIT Act. The hearing also delved into the CFTC's budget requests for the upcoming fiscal year, emphasizing the need for financial certainty. Behnam shed light on the classification of bitcoin as a commodity, clarifying its status in relation to securities."