US Rings Crypto Warning Bell That Regulators Say Only Congress Can Silence

In a separate closed-door portion of the meeting, the regulators – including Gary Gensler, the head of the Securities and Exchange Commission (SEC), and Rostin Behnam, who runs the Commodity Futures Trading Commission (CFTC) – discussed the recent crypto market dramas. According to a summary of that conversation later released by the Treasury Department, the members are watching those developments closely and “spillovers to the traditional financial system have remained limited” so far.