CFTC Chairman Rostin Behnam stated that DeFi exchanges will be regulated even if they are decentralized and code-only.
The pressure and activities of the US regulators on the crypto sector continue. After the SEC’s confrontation with Ripple and Coinbase in particular, a new move came from the CFTC as well.
The Commodities and Futures Commission (CFTC) came to the fore with its legal struggle with Binance. Finally, CFTC Chairman Behnam also targeted DeFi exchanges.
CFTC Chairman Wants to Regulate DeFi Exchanges
CFTC Chairman Rostin Behnam made statements that will mark the regulatory agenda. Behnam targeted DeFi exchanges, which have a decentralized structure. Behnam said DeFi exchanges covering projects such as Uniswap will be regulated.
Against the thought that regulations will be difficult due to its decentralized perception, Behnam stated that decentralized crypto exchanges will be regulated even if they consist only of code.
Interviewing Bloomberg, Behnam stated that DeFi exchanges are reflected as structures that are not institutions and are just codes. Behnam stated that due to this reflection, opinions emerged that the regulations would not be realized, and said that the main issue was related to the exposure of US customers.
Behnam signaled that they will fight bad actors. In addition, Behnam answered the Binance question directed to him as follows;
Nothing surprises me anymore… We know that there are many people who do not want to obey the law, choose to evade the law or do not. They don’t know the law and sometimes do amazing things, including writing things down.
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