Ether is a commodity, said CFTCbehnam. The CFTC chief reiterated the point in a House hearing, adding to a jurisdictional tug-of-war with the SECGov already suggested in his agency's binance action. jesseahamilton reports on the $ETH dispute
, U.S. Commodity Futures Trading Commission Chairman Rostin Behnam reiterated Tuesday at a congressional hearing he believes ether is a commodity – a potentially controversial assertion that differs from what his counterpart at the Securities and Exchange Commission has said.
"I believe they are a commodity,” Behnam said. “And because they are listed on CFTC exchanges, we do have a regulatory relationship – obviously with the derivatives market and that product, but the underlying market as well.” Securities and Exchange Commission Chair Gary Gensler, however, has argued that proof-of-stake tokens – which would include ether since the Ethereum blockchain's protocol switch last year –that should be registered and regulated by his agency. But Gensler hasn’t yet set that in stone with enforcement actions or court wins.
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Binance and founder Changpeng Zhao sued by CFTC for allegedly violating trading rules
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Crypto Exchange Binance and CEO Changpeng Zhao Sued by CFTC Over Regulatory ViolationsJUST IN: The CFTC has filed suit against leading crypto exchange binance and its CEO cz_binance. The price of bitcoin is plunging on the news. oknightcrypto reports
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Binance sued by CFTC for allegedly flouting commodity trading lawsBinance, the world’s largest crypto exchange, was sued by the Commodity Futures Trading Commission Monday for alleged violations of the federal laws...
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