Ethereum

Bitcoin

Gary

<p><strong>In a financial world where the distinction between securities and commodities is increasingly blurred, a recent statement by the Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has made waves. Speaking before the Senate Agriculture Committee, Behnam asserted that 70 to 80% of cryptos are not considered securities.</strong></p>
<h2 id="h-the-cftc-chairman-vs-gary-gensler-on-the-regulation-issue">The CFTC Chairman vs. Gary Gensler on the Regulation Issue!&nbsp;</h2>
<p>This statement follows an Illinois court ruling that recognized <a href="https://www.cointribune.com/en/bitcoin-record-inflow-into-etfs-propels-btc/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> and Ethereum as commodities, which fall under the CFTC’s jurisdiction according to the Commodity Exchange Act. This legal clarification is crucial for legal certainty, especially in the current context where the legal classification of various digital assets is debated.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Behnam’s position represents a direct challenge to the Securities and Exchange Commission (SEC) as its Chairman, Gary Gensler, has previously asserted that most cryptos are securities. The regulatory divergence between the two agencies responsible for overseeing financial markets is now evident.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-implication-for-the-crypto-industry">Implication for the Crypto Industry&nbsp;</h2>
<p>Behnam also called for <a href="https://www.cftc.gov/PressRoom/SpeechesTestimony/opabehnam47" target="_blank" rel="noopener noreferrer nofollow">new legislative authority</a> to allow the CFTC to regulate non-securities digital assets. This move aims to protect investors and provide a clear regulatory framework for the crypto industry.</p>
<p>If the majority of cryptocurrencies are indeed classified as non-securities, it could mean less stringent regulation and more flexibility for innovation in the crypto space. However, it also raises questions about investor protection and the need for appropriate regulations to prevent abuse and fraud.</p>
<p>Behnam’s statement could mark a turning point in the regulation of cryptocurrencies. As the debate over the classification of digital assets continues, <a href="https://www.cointribune.com/en/germany-the-government-isnt-selling-its-bitcoins-the-truth/" target="_blank" rel="noopener noreferrer nofollow">the clarity provided</a> by the CFTC is a step towards a better understanding and more appropriate regulation of the crypto space. That said, caution is still advised for investors, who need to navigate an evolving regulatory landscape while protecting their investments against potential risks.</p>

The CFTC Opposes Gary Gensler on the Actual Nature of Cryptos!

Table of Contents

Cointribune EN

Other articles published on Jul 11, 2024

Ethereum Staking Reaches Record Levels

Bitcoin ETFs Surge, Attracting Over $100 Million in Investments

Cardano price still far away From $1 despite recent recovery, ADA millionaires escape to new crypto

Major EU Crypto Exchange Issues Urgent Warning to Crypto Holders

BlockDAG Surfs as Best Crypto Presale With $57.4M This Summer, Draws Investors Away From Chilliz ...

Paris Saint Germain Fan Token Engages Fans with Club Decisions

Join our free newsletter for daily crypto updates!