The Commodity Futures Trading Commission (CFTC)’s hearing before the Senate Agriculture Committee Wednesday was dominated
Highlights
- The Commodity Futures Trading Commission (CFTC)’s hearing before the Senate Agriculture Committee Wednesday was dominated by the discussion around digital assets.
- The commission took a firm stance against the SEC regarding the classification of Ether and Stablecoins.
- CFTC chair Rostin Behnam told the committee that the second largest cryptocurrency was a commodity since it has been listed on CFTC exchanges for quite a while.
- Behnam also disagreed with the SEC’s position that all digital assets except bitcoin are securities because the “forks buying them are anticipating profits, and a small group of entrepreneurs and technologists are nurturing the projects,” Behnam said.
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