WASHINGTON—The head of the Commodity Futures Trading Commission called on lawmakers Wednesday to grant his agency authority to regulate cryptocurrencies such as bitcoin, saying the “speculative fervor” around such assets has left investors in need of protection.
In a hearing before the Senate Agriculture Committee, which oversees derivatives markets, CFTC Chairman Rostin Behnam also echoed the skepticism expressed by his fellow Biden administration regulators about the potential that cryptocurrencies offer.
