Cointime

Cointime

Download App
iOS & Android

CFTC Chair Says Ethereum and Stablecoins Are Commodities

Cointime Official

Rostin Behnam, the chairman of the Commodities and Futures Trading Commission (CFTC), said Ethereum, the second-largest cryptocurrency next to Bitcoin, is a commodity.

“It’s been listed on CFTC exchanges for quite some time, and for that reason,” Behnam said in a hearing, argued that it creates a “direct jurisdictional hook” for the agency to police both ETH’s derivatives market and the underlying market. 

Benham also commented on stablecoins, stating:

“I agree … that stablecoins are and should be … regulated financial instruments. Not withstanding a regulatory framework arounds stablecoin, they’re going to be commodities in my view.”

It seems that his viewpoint stands in direct opposition to that of the chairman of the SEC, Gary Gensler, who contended last month that anything other than Bitcoin is subject to securities regulations. Although the chairman did not explicitly mention any cryptocurrencies, he has implied on numerous occasions that Ethereum could fall under this category, particularly since the platform shifted to a proof of stake consensus mechanism.

Ethereum Ethereum $2,193.41
-1.21%
CFTC Ethereum
Comments

All Comments

Recommended for you

  • Trump: The World Relies on the U.S. for Oil Without Crossing the Strait of Hormuz

    On April 13, Trump stated that due to Iran's actions regarding the Strait of Hormuz, the entire world is relying on the U.S. for oil. "We will implement blockade measures tomorrow at 10 AM... Other countries are also working to ensure that Iran cannot sell oil, and this will be very effective! Many ships are heading to our country, refueling, and then leaving to transport this oil, so they won't have to cross the Strait of Hormuz. This issue will ultimately be resolved. The whole world is relying on the U.S. Thanks to the 'Drill, Baby, Drill' campaign, our oil reserves have increased, surpassing the combined total of Russia and Saudi Arabia. The current situation is that ships are arriving, refueling, and no longer needing to cross the Strait of Hormuz!" (Jinshi)

  • BTC Surpasses $71,000

    Market data shows that BTC has surpassed $71,000, currently priced at $71,007.73, with a 24-hour decline of 2.79%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Falls Below $2200

    Market data shows that ETH has fallen below $2200, currently priced at $2199.99, with a 24-hour decline of 3.64%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Surpasses $2200

    Market data shows that ETH has surpassed $2200, currently priced at $2201.53, with a 24-hour decline of 3.92%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $71,000

    Market data shows that BTC has surpassed $71,000, currently priced at $71,007.05, with a 24-hour decline of 2.81%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Falls Below $71,000

    Market data shows that BTC has fallen below $71,000, currently priced at $70,974.17, with a 24-hour decline of 2.69%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Trump: U.S. Navy to Begin Blockade of Strait of Hormuz

    U.S. President Trump: The talks between the U.S. and Iran are going well, with most topics reaching a consensus, but the only truly important nuclear issue has not been resolved. Effective immediately, the U.S. Navy will begin a blockade of any vessels attempting to enter or exit the Strait of Hormuz. I have also instructed the U.S. Navy to search and seize every ship in international waters that has paid a toll to Iran.

  • U.S. Negotiation Team Members Have All Left Pakistan

    On April 12, a U.S. official stated that after the U.S.-Iran talks concluded, all members of the U.S. negotiation team have left Pakistan. The official noted that personnel, including Witkoff, Kushner, and the technical team, did not remain in the capital of Pakistan, indicating that both sides will not immediately resume direct negotiations. Earlier that day, Vance mentioned at a press conference in Islamabad that the U.S. has not reached a consensus with Iran and will return to the United States. The negotiations between the U.S. and Iran in Islamabad ended on the 12th without any agreement. The Iranian side stated that the talks were conducted in an atmosphere of 'distrust and suspicion,' with both sides having differences on two or three key issues. The U.S. side claimed that it had clearly outlined its 'red lines,' but the Iranian side did not accept the U.S. conditions.

  • ETH Falls Below $2200

    Market data shows that ETH has fallen below $2200, currently priced at $2195.81, with a 24-hour decline of 1.97%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $73,000

    Market data shows that BTC has surpassed $73,000, currently priced at $73,010, with a 24-hour increase of 3.3%. The market is experiencing significant volatility, so please ensure proper risk management.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company