With their first-ever cryptocurrency regulatory framework, the regulators in the United States are showing accelerated efforts to keep up with the controversial sector.
However, classifying crypto assets between securities and commodities is always a topic of debate. It is particularly true when the two bodies in charge, SEC and CFTC, are far from drawing a line under the definition of the legal nature of cryptocurrency.
More Clarity
In a public speech revolving around the crypto market, CFTC chairman Rostin Behnam reaffirmed that Bitcoin and Ether are commodities, not securities. According to Behnam, Ethereum’s transition to Proof-of-Stake doesn’t make it securities.
“I’ve suggested [Ether] is a commodity, and Chair Gensler thinks otherwise,” the CFTC chair reiterated at the Manhattan event. The Monday panel also welcomed other key figures in finance such as Rutgers Law, Wall Street Blockchain Alliance, and Lowenstein…
