U.S. Financial Industry Regulatory Authority Appoints Cryptocurrency Policy Experts to Board

The U.S. Financial Industry Regulatory Authority (FINRA) announced the appointment of former Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam and Robinhood Markets Chief Legal Officer Dan Gallagher to its board. These additions aim to enhance strategic guidance on digital asset regulation.

Behnam led the CFTC from 2021 to 2025, during which he pushed for federal-level crypto legislation and enforced actions against platforms like FTX. Gallagher, a former SEC commissioner, has previously criticized the Biden administration's crypto policies and is seen as a potential candidate for SEC chair.

The appointments reflect FINRA's growing focus on digital assets and its role in shaping the regulatory environment for brokers. With the crypto industry evolving rapidly, the inclusion of Behnam and Gallagher signals a more structured approach to managing digital asset markets.

Why Did This Happen?

The U.S. Securities and Exchange Commission (SEC) is now fully under Republican control, which has led to a shift in its approach to crypto regulation. The removal of commissioner Caroline Crenshaw, a crypto skeptic, has left the agency with three Republican commissioners. This has opened the door for pro-crypto rulemaking.

The change in leadership at the SEC came after President Donald Trump took office and pushed for a more crypto-friendly agenda. The Trump administration has made promoting the U.S. crypto industry a key policy goal, and the SEC has aligned with this vision by withdrawing from aggressive enforcement actions.

How Is the Market Responding?

The market has responded positively to the regulatory developments. In January 2026, the Senate is expected to hold a markup vote on the crypto market structure bill. With a fully Republican SEC, the industry anticipates a year of significant regulatory progress.

Goldman Sachs has noted that regulatory clarity is the key driver for institutional adoption of crypto. The firm highlighted that the potential passage of market structure legislation in the first half of 2026 could unlock opportunities in tokenization, decentralized finance (DeFi), and stablecoin integration.

AstraBit, one of the first firms to be granted FINRA membership for digital assets, has also benefited from the evolving regulatory landscape. The company emphasized that regulatory alignment is essential for the long-term growth of the industry. AstraBit's digital-first approach, supported by FINRA compliance, reflects the growing trust in regulated crypto services.

What Are Analysts Watching Next?

Analysts are closely monitoring the Senate's markup vote on the crypto market structure bill. The passage of this legislation could define the future of the U.S. crypto industry.

The CLARITY Act, a proposed comprehensive regulatory framework for crypto, is also under consideration. This act would outline taxation, asset classification, and issuance guidelines, providing much-needed clarity for investors and institutions.

In addition to U.S. developments, Japan's Finance Minister Satsuki Katayama has expressed support for integrating crypto trading with stock exchanges. Her comments indicate a global shift in regulatory attitudes.

The regulatory landscape is also evolving in Argentina, where Coinbase has paused peso-based stablecoin services. The move highlights the challenges of operating in volatile markets but does not signal a permanent exit. Instead, it reflects a strategic reassessment of local operations.

With the SEC, FINRA, and international regulators taking a more proactive stance, the crypto industry is entering a new phase. The focus on structured regulation, institutional adoption, and market clarity is expected to drive innovation while maintaining investor protections.