{"id":18646,"date":"2023-06-05T23:24:54","date_gmt":"2023-06-06T03:24:54","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/us-cftc-chair-behnam-coinbase-chief-legal-among-others-to-testify-at-house-hearing\/"},"modified":"2023-06-05T23:24:56","modified_gmt":"2023-06-06T03:24:56","slug":"us-cftc-chair-behnam-coinbase-chief-legal-among-others-to-testify-at-house-hearing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18646","title":{"rendered":"US CFTC Chair Behnam, Coinbase Chief Legal Among Others To Testify at House Hearing"},"content":{"rendered":"
\n

The US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase\u2019s Chief Legal Officer Paul Grewal and a slew of former regulators are set to testify Tuesday morning in front of a US congressional committee.<\/p>\n

The House Agriculture Committee will meet to discuss legislation to regulate cryptocurrencies and hear from Behnam, Grewal and former CFTC Chair Christopher Giancarlo, among others.<\/p>\n

The hearing titled, \u201cThe Future of Digital Assets: Providing Clarity for Digital Asset Spot Markets,\u201d starts at 10 a.m. following news of a Securities and Exchange Commission complaint<\/u> filed against crypto exchange Binance and days after House Agriculture Chair Glenn \u201cGT\u201d Thompson, R-Pa., released draft legislation<\/u> to regulate the industry.\u00a0<\/p>\n

The committee will also hear from former SEC Commissioner Dan Gallagher, who is now chief legal compliance and corporate affairs officer at Robinhood Markets, Inc.\u00a0<\/p>\n

Former CFTC Commissioner and former SEC General Counsel Dan Berkovitz as well as former CFTC Acting Chairman and now CEO of the Futures Industry Association Walt Lukken are also set to testify.<\/p>\n

The digital asset bill<\/h2>\n

It is likely that the committee will discuss a draft discussion \u2014\u00a0which was first released last week.\u00a0<\/p>\n

The legislation, released on Friday, seeks clarity on when a digital asset would be considered a security and thereby regulated by the SEC, while creating a process on how digital assets are treated and how intermediaries can register with the SEC or the CFTC.<\/p>\n

At the end of the last Congress, both House Financial Services Chair Patrick T. McHenry of North Carolina and House Agriculture Committee Chair Thompson, wanted to find a path forward together, according to senior policy people familiar with drafting the legislation.\u00a0<\/p>\n

The draft legislation, called the Digital Asset Market Structure Discussion Draft, would create a framework that would give the CFTC jurisdiction over digital commodities, while clarifying the SEC\u2019s jurisdiction over \u201cdigital assets offered as part of an investment contract.\u201d\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase\u2019s Chief Legal Officer Paul Grewal and a slew of former regulators are set to testify Tuesday morning in front of a US congressional committee. The House Agriculture Committee will meet to discuss legislation to regulate cryptocurrencies and hear from Behnam, Grewal and former CFTC Chair […]<\/p>\n","protected":false},"author":1,"featured_media":18647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-18646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nUS CFTC Chair Behnam, Coinbase Chief Legal Among Others To Testify at House Hearing | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase\u2019s Chief Legal Officer Paul Grewal and a slew of former regulators are set to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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