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<p>The post <a href="https://coinpedia.org/crypto-live-news/cftc-chair-confronts-secs-possible-decision-of-ethereums-custody/" rel="noopener noreferrer nofollow">CFTC Chair Confronts SEC’s Possible Decision of Ethereum’s Custody</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The probable decision of SEC to allow one of its registered firms, Promethium to custody Ether, would classify it a security, warned Commodity Futures Trading Commission (CFTC). The CFTC Chairman, Rostin Behnam testified in a March 6 hearing before the House Committee that both Bitcoin and Ether are commodities. SEC-registered Special Purpose Broker Dealers (SPBDs) can only custody securities, and the SEC Chair has not clearly mentioned if ETH is a security or commodity.&nbsp; He also highlighted that the increasing market participation in crypto has tested the limits of the regulatory framework, and has called the Congress to take action and address the regulatory challenges.</p>

CFTC Chair Confronts SEC’s Possible Decision of Ethereum’s Custody

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