Regulation Is Coming, Bitcoin Will Benefit – Bitcoin Magazine

This is an opinion editorial by Shane Neagle, the editor-in-chief of “The Tokenist.”

The continued discussion about the need for a comprehensive U.S. regulatory framework to identify opportunities and risks within the rapidly growing Bitcoin sector has caught the attention of the wider public.

Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), said recently that proper regulation of the cryptocurrency space could have significant positive effects on market growth, particularly for bitcoin.

“Growth might occur if we have a well-regulated space,” Behnam said during his appearance at New York University School of Law.

Behnam also said, “Bitcoin might double in price if there’s a CFTC-regulated market,” which made headlines around the globe. His comments aren’t surprising given that he has emphasized the need for regulatory clarity in the Bitcoin market several times before.

The CFTC And SEC Must Work Together

Earlier this year, representatives of the Senate Agriculture Committee, which oversees the CFTC, proposed a new bill that would make the CFTC the primary regulator of the digital assets industry and strengthen its control over cryptocurrency spot markets. The bill would also require trading companies to register with the CFTC. Behnam voiced his support for the bipartisan bill, which would also allow the CFTC to charge fees on regulatory entities and reinforce its financial power.