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Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam reportedly said the agency was “handcuffed” as crypto regulation talks have reached a standstill in the United States.&nbsp;
Efforts to adopt a legislative framework regulating the digital asset industry have “stalled out so far,” Behnam said at the Securities Industry and Financial Markets Association (SIFMA) annual <a data-ct-non-breakable="null" href="https://events.sifma.org/annual" rel="null" target="null" text="null" title="null">meeting</a> in New York on Oct. 21. 
Still, he remained confident that a new Congress and president could make progress.&nbsp;“I’m not betting on anything happening necessarily at the end of the year, but there’s a unique appetite that this election, I think, has changed around digital assets and technology,” he said, <a data-ct-non-breakable="null" href="https://www.law360.com/fintech/articles/1892089/sec-cftc-chairs-talk-crypto-ai-wall-street-texting-sweep" rel="null" target="null" text="null" title="null">according</a> to Law360.&nbsp;
He added that without any legislation, the agency is “really handcuffed” in “policing” the crypto market, which would leave investors “vulnerable.”&nbsp;
<blockquote>
 “That ends up leaving a really vulnerable market, leaving vulnerable customers, leaving institutional money on the sidelines and ultimately not really helping support technology as it wants to integrate into traditional finance.”&nbsp;
</blockquote>
SIFMA President Kenneth Bentsen said there was “growing frustration” in the finance industry as brokerage firms questioned whether it was possible to operate or achieve success by avoiding an <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cftc-charges-uniswap-illegal-derivatives-trading" rel="null" target="null" text="null" title="null">enforcement action</a> or if it was “just going to be a constant liability for firms.”
<figure>
 <img alt="CFTC" src="https://s3.cointelegraph.com/uploads/2024-10/0192b261-57e8-7a41-976a-df7e99d523a1" title="">
 <figcaption style="text-align: center;">
 CFTC Chair Rostin Behnam speaking at 2023 SIFMA annual meeting: Source YouTube
 </figcaption>
</figure>
<h2 id="strong-cftc-taps-into-artificial-intelligence-strong">CFTC taps into artificial intelligence</h2>
Rostin Behnam also revealed that the CFTC used <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/dangers-of-artificial-intelligence" rel="null" target="null" text="null" title="null">AI</a> to police the markets.&nbsp;
“We are using artificial intelligence, different types of analytics, to comb through the data we collect,” he said.
He added that the agency had a huge opportunity to go beyond data analysis and use emerging technologies such as AI to detect market manipulation and cyberattacks and reduce the number of lawsuits.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-lawmaker-proposes-sec-cftc-joint-advisory-committee-digital-assets" rel="null" target="null" text="null" title="null">Bill seeks to create SEC-CFTC joint committee on digital assets</a>
“If we can start to use AI collectively to ensure compliance, I think there’s probably going to be a lot fewer enforcement cases,” he said.&nbsp;
On Oct. 17, the Treasury <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ai-helps-treasury-recover-billions-in-fraud" rel="null" target="null" text="null" title="null">revealed</a> that it had been using <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/training-vs-testing-data-in-machine-learning" rel="null" target="null" text="null" title="null">machine learning</a> AI to sift through data and recover $4 billion in fraud and improper payments in fiscal 2024.&nbsp;
&nbsp;Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/insane-satoshi-podcast-created-in-seconds-crypto-ai-outperform-memecoins-ai-eye/" rel="null" target="null" text="null" title="null">Insane Satoshi podcast created in seconds, Crypto + AI outperform memecoins: AI Eye</a>

CFTC chair says agency is ‘handcuffed’ as crypto regulations stall: Report

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