CFTC Chairman Terms Many Tokens as Commodities
In an interview, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam argued that many tokens are considered commodities under existing law, contrary to SEC Chairman Gary Gensler’s stance.
Gensler has advocated for treating crypto intermediaries as securities, insisting on SEC registration.
However, an all-Republican group of lawmakers challenged the SEC’s views, arguing that the SEC’s approach forced crypto companies into regulatory frameworks that were incompatible with the technology’s principles and not aligned with existing securities laws.
Behnam acknowledged a regulatory gap and called for Congress to legitimize blockchain technology.
(With inputs from Shikha Singh)
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