Rostin Behnam, the CFTC couch, will step down as the regulator’s migration continues ahead of Trump’s inauguration.

U. S. Commodity Futures Trading Commission Chair Rostin Behnam will withdraw later this month, he said Tuesday in a speech. &nbsp,

Behnam plans to retire on January 20—the evening that President-elect Donald Trump is sworn in—and may leave the Commission on February 7. The major markets cop is the latest of many crypto-skeptic regulators to move down in a bid to minimize skirmishes with the coming administration, which has promised to mount more pro-crypto officials at the helm of various federal regulators. &nbsp, &nbsp,

” Over the past several years, a multitude of domestic and global events tested the endurance of all economic industry”, Behnam said in the speech. ” I am pleased to keep the CFTC and the compounds industry stronger than ever”.

Behnam did never identify the reason for his departure, which he announced only one morning after Michael Barr said that he would withdraw as Federal Reserve Board Vice Chair for Supervision due to the likelihood of a social fight over his visit.

The CFTC is responsible for steering monitoring of derivatives areas, including bitcoin futures contracts and choices. &nbsp, &nbsp,

As CFTC Chief, Behnam jockeyed to make the Commission the major regulator of Bitcoin, giving it significant influence over the future of the online asset industry in the U. S. He even advocated for firmer regulation guardrails for spot cryptocurrency exchange-traded products, calling attention to “opaque and uneven practices in the cash markets for online assets”.

Trump is likely to replace Behnam with one of the Commissions ‘ standing Republican CFTC Commissioners—Summer Mersinger or Caroline Pham, reported Tuesday. &nbsp,

Behnam is the latest of several regulators appointed by President Joe Biden that are abandoning their posts ahead of Trump’s inauguration. Securities Exchange Commission Chair Gary Gensler signaled in November he would step down as of January 20, while two other Democrat-appointed Commissioners are also on their way out.