CFTC Chairman: Regulation Could Double Bitcoin in Price

Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam made a speech the other day. So, he spoke about the regulation of the crypto industry performed by the CFTC. According to Behnam, regulation could open up new prospects for the crypto industry, in particular lead to a potential boost in bitcoin prices.

“Growth might occur if we have a well-regulated space. Bitcoin might double in price if there’s a CFTC-regulated market,” CFTC Chairman emphasized during his speech at New York University School of Law.

Recall, Rostin Behnam insisted that market participants require regulatory certainty. After all, it is regulation, according to many, that the crypto industry lacks. It is also worth mentioning there is a long-running dispute between the CFTC and the Securities and Exchange Commission (SEC) over the role of the top regulator of the crypto industry.

CFTC Chairman believes that a clear regulatory framework will pave the way for institutional investors to enter the market. However, their inflows can only occur if a regulatory structure is created around these markets.

“Non-bank [crypto] institutions thrive on regulation, they thrive on regulatory certainty, they thrive on a level playing field. And they may say otherwise, they might bicker about the type of regulation – but what they love most is regulation because they are the smartest, the fastest and the most well-resourced. With those attributes, they can beat everyone else in the market,” Behnam emphasized.