CFTC Chairman Confirms Bitcoin, Ether Are Commodities
The chairman of the U.S. Commodity Futures Trading Commission (CFTC) says he is certain bitcoin and ether are commodities. He outlined how his agency is working with the U.S. Securities and Exchange Commission (SEC) to regulate the crypto sector, noting that “there are no customer protections right now in the crypto market.” Bitcoin and Ether Are Commodities ‘For Sure’ CFTC Chairman Rostin Behnam discussed the regulation of cryptocurrencies by the CFTC and the SEC in an interview with CNBC last week. The chairman was asked to comment on a bill in Congress that puts the SEC in charge of security tokens and the CFTC in charge of commodity tokens. “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. The CFTC boss noted that within the crypto