Keep an Objective Approach with Fintech, Says Rostin Behnam
On Thursday, Rostin Behnam, a commissioner at the (CFTC) invited the beginning of taking an objective approach towards fintech- cryptocurrency and blockchain.
Rostin, after a year in his position as a commission officer, said at the ISDA that the biggest chunk of his time was spent on fintech-related matters. A lot of time is spent examining AI, BTC, DLT, and crypto related issues, said Behnam.
The commissioner also mentioned that there are numerous uses for DL that run the whole spectrum from art to farming, Dogecoin to Cryptokitties, and more.
CT reported that other regulators are also calling for for fairness in dealing with disruptive technology. The United States of America’s telecom regulator has admitted the need to be ready with a plan B for when blockchain spreads wider.
Behnam’s involvement in the Al, DLT, and crypto industries stems from his need to be knowledgeable and up-to-date with it.
Behnam talks about his main purpose. He wants to be a knowledgeable regulator and not fall in the trap of the classic operator, the one chasing after technologies long time after they change the market. He wants to create opportunities for new creations and creators. “Risk-takers should be rewarded”, he added.
2018 has given the SEC and the CFTC a lot of limelight in regards to the crypto industry.
The Securities and Exchange Commission’s rejection of ETF applications two months ago is establishing a communication channel with the developers who want to quell the fears of the agency about their submissions.