U.S. CFTC Chairman: BTC and ETH are commodities, opposing SEC's "enforcement regulation"

ChainCatcher News, U.S. CFTC Chairman Rostin Behnam stated in an interview that there are significant differences in cryptocurrency regulatory approaches between the CFTC and the SEC led by Gary Gensler.

Behnam criticized the SEC's approach to cryptocurrency regulation. "I strongly oppose 'enforcement-based regulation.' I have done everything I can to remain transparent and engage with market participants in the DeFi space; financial innovation is in the national interest."

Behnam stated that there is a responsibility to protect U.S. investors in the commodity financial asset market, and many of these crypto tokens are commodities. BTC and ETH are commodities, and the listing of BTC and ETH futures on trading platforms is "market-driven." The CFTC's job is to "create a resilient/transparent market environment" for these decentralized assets and clearly stated that the lack of a central coordinator or joint enterprise is the reason why cryptocurrencies and other commodities are not securities. (Source link)