Wednesday, February 28, 2024
12 C
New Jersey

CFTC Chair Declares Ether and Stablecoins as Commodities

Must read

Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Rustin Behnam, Chairman of the US Commodity Futures Trading Commission (CFTC), reiterated his position on Ether (ETH) and stablecoins, making it clear that they qualify as securities.

During a Senate Agriculture Committee hearing on March 8 on Censorship of Commodity Futures Trading Commission Chairman Rustin Behnam confirmed again He believes stablecoins should To be organized as commodities.

Senator Kirsten Gillibrand questioned Benham about the different situation of The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Referred to formersettlement with USDT stablecoin The issuer is Tether in 2021.

Benham stated that the stablecoin’s commodity status was clear to enforce team.

(embed) https://www.youtubecom/watch? v = 3H19OF3lbnA (/embed)

While the CFTC insures bitcoin (BTC) and a good number of Altcoins are commodities, their counterparts, the SEC has made He. She clear over The time when BTC might be the only one true commodity in Entire digital assets space.

Gary Gensler’s SEC has taken a tough approach to regulating cryptocurrencies amid criticism from Web 3 supporters. In 2022, the dreaded regulatory Implemented a 50% oversight body more enforcement actions against encryption projects.

More articles

Leave a Reply

Latest article