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CFTC Chair Indicates Agency Will Increase Crypto Enforcement: Report
Rostin Behnam said the agency was facing a rapidly increasing number of cases and would add resources to address crypto fraud.
By James Rubin
Updated May 11, 2023, 6:41 p.m. Published May 18, 2022, 11:30 p.m.
The Commodity Futures Trading Commission (CFTC) will add resources and increase its efforts to address cryptocurrency-related fraud and manipulation cases, agency Chairman Rostin Behnam said Wednesday, The Wall Street Journal reported.
In video remarks at the Chainalysis Links conference, Behnam said the CFTC was facing a surging number of these types of cases.
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In the past fiscal year, the agency filed 23 crypto-related cases, nearly half the total number of its enforcement actions involving digital assets since 2015.
"Headlines about the loss of tens of millions of dollars in digital assets due to protocol exploits, phishing attacks, preying on vulnerable people and other fraudulent and manipulative schemes have become far too common," he said.
In a confirmation hearing for the chairman role last October, Behnam said the CFTC was ready to take primary responsibility for crypto enforcement. “I think it’s important for this committee to reconsider and consider expanding authority for the CFTC,” Behnam said.
The issue has been a major point of debate among lawmakers and regulators, some of whom believe the U.S. Securities and Exchange Commission should fill the primary cop role.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Key U.S. Senator on Crypto Bill, Lummis, Negotiating Dicey Points With White House
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
What to know:
- Sen. Cynthia Lummis (R-Wyo.) said she is negotiating with the White House on behalf of Senate Democrats trying to insert ethics provisions into Congress' market structure legislation.
- Lawmakers should reveal a new draft market structure bill by the end of the week and hold a markup hearing next week, she said.
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