in the USA Bitcoin (BTC) and cryptocurrencies There is no clear decision on which institution will regulate it and which cryptocurrency is a security and which is a commodity.
US regulatory agencies SEC and CFTC He argues that cryptocurrencies fall within his jurisdiction.
at this point Speaking on CNBC’s “Squawk Box,” CFTC Chairman Rostin Behnam said most cryptocurrencies are commodities under current laws.
The CFTC chairman also acknowledged that there is a “turf war” among regulators over who will regulate the cryptocurrency industry, saying:
“Under current law, most cryptocurrencies are commodities and there is a disagreement among institutions in the US over regulation.
This disagreement has become a major obstacle to establishing clear regulatory rules for cryptocurrencies and the broader crypto industry.
“At this point, I think there is a need for urgent legislative action on the regulatory complexities facing the crypto industry.”
The CFTC Chairman was also asked about his thoughts on SEC Chairman Gary Gensler’s defense that cryptocurrencies are securities.
Rostin Behnam, to this question “We have a positive working relationship with the SEC. In fact, both agencies share an interest in protecting U.S. markets, the nation’s financial ecosystem, and consumers.” said.
As you may remember, CFTC Chairman Rostin Behnam in his previous statements Ethereum (ETH) And stablecoins is a commodity, SEC chairman Gary Gensler said Bitcoin He said that all cryptocurrencies other than cryptocurrencies are securities.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!