CFTC Chief Says Recent Crypto Cases Are ‘Tip of the Iceberg’

WASHINGTON—The acting head of the Commodity Futures Trading Commission said Wednesday that he plans to continue aggressively policing cryptocurrency markets and called on Congress to consider expanding his agency’s authority to do so.

Rostin Behnam, the CFTC’s acting chairman, noted that the agency has settled two enforcement actions against cryptocurrency companies totaling $140 million. “But this is the tip of the iceberg,” he said in a confirmation hearing before the Senate Agriculture Committee.