CFTC Chair Leaves Ethereum Hanging, Says Only Bitcoin Is a Commodity: Report
Bitcoin Ethereum CFTC Chair Leaves Ethereum Hanging, Says Only Bitcoin Is a Commodity: Report 12 / 01 / 2022 Balita ng Ethereum ng Bitcoin The Chair of the Commodities Futures Trading Commission (CFTC) is reportedly saying that only one crypto asset on the market counts as a commodity. Ayon sa isang bago ulat by Fortune, CFTC Chair Rostin Behnam says that Bitcoin (BTC), the leading digital asset by market cap, is the only virtual currency that can be considered a commodity, making it fall under the jurisdiction of the regulatory agency. This marks a change in Behnams beliefs as in October, the Chairman said that the leading smart contract platform Ethereum (ETH) may also count as a commodity. At the time, Behnam sinabi that the top altcoin wouldnt count as a security despite transitioning from a proof-of-work consensus mechanism to a proof-of-stake one. Securities don‘t fall under the watch of the CTFC and are subject to the U.S. Securities and Exchange Commission’s (SEC) jurisdiction, which is known in the crypto industry for having harsher regulatory methods compared to the CFTC, according to the report. Behnam goes on to say that the crypto industry desperately needs clear guidelines and regulations in the wake of the multibillion-dollar collapse of prominent crypto