“CFTC Chair Asserts Ether’s Commodity Status, Contradicting SEC Chairman’s Security Claim – Regulation Update”
comments that all crypto tokens other than bitcoin are securities, what is your view on ether?”
Behnam responded by stating that the CFTC considers ether to be a commodity, not a security. He emphasized that the CFTC would not have allowed ether futures products to be listed on CFTC-regulated exchanges if they did not strongly believe that ether was a commodity asset.
Behnam’s comments come after Gensler’s recent remarks that all crypto tokens other than bitcoin are securities, which has caused concern among the crypto community. The SEC chairman has also called for greater regulation of the crypto industry, particularly in regards to initial coin offerings (ICOs).
However, Behnam’s stance on ether as a commodity could have implications for the SEC’s regulatory authority over the token. If ether is indeed a commodity, it would fall under the jurisdiction of the CFTC rather than the SEC.
The debate over whether crypto tokens are securities or commodities has been ongoing for years, with regulators struggling to define the nature of these assets. The CFTC has previously classified bitcoin as a commodity, while the SEC has deemed some tokens to be securities.
As the crypto industry continues to grow and evolve, it is likely that regulators will continue to grapple with these issues. However, Behnam’s comments suggest that the CFTC is taking a different approach to the SEC when it comes to ether, which could have significant implications for the future of the token and the wider crypto market.