THELOGICALINDIAN - The administrator of the US Commodity Futures Trading Commission CFTC says he is assertive bitcoin and ether are bolt He categorical how his bureau is alive with the US Securities and Exchange Commission SEC to adapt the crypto area acquainted that there are no chump protections appropriate now in the crypto market
Bitcoin and Ether Are Commodities ‘For Sure’
CFTC Chairman Rostin Behnam discussed the adjustment of cryptocurrencies by the CFTC and the SEC in an account with CNBC aftermost week.
The administrator was asked to animadversion on a bill in Congress that puts the SEC in allegation of aegis tokens and the CFTC in allegation of article tokens.
“This is a little bit of an age-old affair amid the CFTC and the SEC. We accept a abundant accord historically … Within this space, in my view, it makes faculty for bolt to be adapted by the Commodity Futures Trading Commission and balance to be adapted by the SEC,” Behnam detailed.
The CFTC bang-up acclaimed that aural the crypto space, there will be some bill that are balance and some that are commodities.
When asked to animadversion on SEC Chairman Gary Gensler’s affirmation that best of the crypto tokens out there are securities, Behnam fatigued that the better cryptocurrencies are commodities. He emphasized:
Admitting that there may be a lot of aegis coins, the CFTC arch noted, “there are affluence of association coins.” He clarified: “I anticipate it makes faculty that anniversary bureau has administration over bolt and balance respectively.”
The CFTC administrator was asked whether there is any altercation amid the two agencies. “I wouldn’t say there is disagreement,” he replied, emphasizing that anniversary bureau tries to do what’s best.
Commenting on the crypto bazaar sell-off aftermost week, Behnam said:
He assured that both the CFTC and the SEC appetite to adapt the crypto area “thoughtfully,” assure customers, and assure banking stability.
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