Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam said on Thursday that Bitcoin might “double in price” if it traded in a CFTC-regulated market.
The chairman added that the crypto industry had “a massive opportunity for institutional inflows that will only occur if there’s a regulatory structure.”
The comments come as the crypto industry faces intensifying scrutiny globally, from Brazil to Australia to Tether’s well-documented legal woes stateside.
However, some governments, like Japan and the UAE, also appear keen to embrace crypto and Web3, seeing them as an opportunity for growth.
The wave of regulation heading for crypto might not be a bad thing, though, according to Behnam. “Non-bank [crypto] institutions thrive on regulation, they thrive on regulatory certainty, they thrive on a level playing field, [...] because they are the smartest, the fastest and the most well-resourced,” he said.
CFTC and crypto
Behnam said the CFTC’s current funding model and resources...
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