The CFTC chairman says he knows for sure that bitcoin and ether are commodities. crypto cryptocurrency $BTC $ETH
He outlined how his agency is working with the U.S. Securities and Exchange Commission to regulate the crypto sector, noting that “there are no customer protections right now in the crypto market.”CFTC Chairman Rostin Behnam discussed the regulation of cryptocurrencies by the CFTC and the SEC in an interview with CNBC last week.
“This is a little bit of an age-old issue between the CFTC and the SEC. We have a great relationship historically … Within this space, in my view, it makes sense for commodities to be regulated by the Commodity Futures Trading Commission and securities to be regulated by the SEC,” Behnam detailed. When asked to comment on SEC Chairman Gary Gensler’s claim that most of the crypto tokens out there are securities, Behnam stressed that the largest cryptocurrencies are commodities. He emphasized:Admitting that there may be a lot of security coins, the CFTC chief noted, “there are plenty of community coins.” He clarified: “I think it makes sense that each agency has jurisdiction over commodities and securities respectively.
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