Rostin Benham, Chairman of the US Commodity Futures Trading Commission (CFTC), said that the only commodity in the cryptocurrency market is Bitcoin (BTC).
According to Fortune’s November 30 report, CFTC Chairman Rostin Benham said: at Princeton University of the unregulated cryptocurrency industry at a closed cryptocurrency event. from the dangers and regulation from the requirements talked about. President at the event, Bitcoin can be considered a commodity single digital asset stressed that.
many times in the past Ethereum (ETH) and of bitcoin Claiming that it has the status of a commodity, Benham mentioned only Bitcoin as a commodity for the first time at the event. He also citing the dominant behavior of digital assets as a speculative market, which he has previously dealt with. unlike any commodity expressed. Benham said the commission’s enforcement action was limited, which made things difficult.
After the FTX collapse, the CFTC, known for its close ties with the company’s CEO, has been at the center of criticism. of the institution Digital Commodity Consumer Protection Act (DCCPA) The draft was supported by FTX CEO Sam Bankman-Fried.