Rostin Behnam parts ways with his SEC counterpart over whether Ethereum is a security and subject to federal regulation.
Highlights
- CFTC chairman Rostin Behnam says that the second-largest cryptocurrency next to Bitcoin is a commodity.
- Behnam told the Senate Agriculture Committee that the CFTC has “serious legal defences” to support their case.
- His opinion appears to contradict that of SEC chairman Gary Gensler, who argued last month that “everything other than Bitcoin” falls under securities laws.
- The CFTC also disagrees with the SEC on stablecoins, saying that stablecoins should be a commodity asset, not subject to federal regulation.
- The SEC recently threatened to sue Paxos for issuing BUSD as an unregistered security, Behnam said Wednesday.
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