Behnam, a Democrat, has served as the CFTC's chairman since 2022. He previously served as a commissioner between 2017 and 2021 and was named acting chairman in 2021 after his predecessor, Heath Tarbert, resigned when President Biden took office.Behnam said that under his leadership, the CFTC shifted its focus from implementing the 2010 Dodd-Frank Act to adapting its oversight responsibilities to address the new issues brought on by evolving technology in the derivatives markets and to tackle regulatory gaps.Behnam has sought a leading role for the CFTC in regulating the cryptocurrency market, which has defied easy categorization within the financial regulatory system. That has put the derivatives regulator in a potential conflict with the Securities and Exchange Commission around jurisdictional power over the nascent industry.The CFTC has cracked down on misconduct and fraud related to cryptocurrency over the past few years, suing some of the highest-profile companies in the industry. The regulator in August obtained $12.7 billion in a judgment against now-bankrupt crypto exchange FTX and crypto trading firm Alameda Research. The CFTC also sued crypto exchange Binance for evading U.S. rules in 2023 and imposed a $2.7 billion fine on the company later that year. When a group of regulators announced the deal with Binance at the time, Behnam joined Attorney General Merrick Garland and Treasury Secretary Janet Yellen on the stage.Behnam said his last day at the agency will be Feb. 7, adding that he would work closely with President-elect Donald Trump's team to ensure a smooth transition.

CFTC Chairman to Step Down When Trump Takes Office

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