As the US Securities and Exchange Commission (SEC) continues to review participants in the cryptocurrency industry including Robinhood, Binance, Coinbase, and Ripple, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam has warned that enforcement actions are on the rise. Behnam emphasized the lack of regulatory frameworks and transparency in the constantly evolving cryptocurrency industry, which he believes will inevitably lead to more cases of fraud and manipulation. Behnam expects a "cycle of enforcement actions" in the next six months to two years, driven by the rapid appreciation of digital assets and strong interest from retail investors. In addition, Behnam believes that without proper regulation, fraud and manipulation will continue to persist.