{"id":88218,"date":"2023-12-13T17:06:21","date_gmt":"2023-12-13T15:06:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88218"},"modified":"2025-09-13T16:36:57","modified_gmt":"2025-09-13T13:36:57","slug":"cftc-chief-says-most-cryptocurrencies-are-commodities","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cftc-chief-says-most-cryptocurrencies-are-commodities\/","title":{"rendered":"CFTC chief says most cryptocurrencies are commodities"},"content":{"rendered":"<p>Most cryptocurrencies are commodities, <span data-descr=\"\u041a\u043e\u043c\u0438\u0441\u0441\u0438\u044f \u043f\u043e \u0441\u0440\u043e\u0447\u043d\u043e\u0439 \u0431\u0438\u0440\u0436\u0435\u0432\u043e\u0439 \u0442\u043e\u0440\u0433\u043e\u0432\u043b\u0435 \u0421\u0428\u0410\" class=\"old_tooltip\">CFTC<\/span> competes with <span data-descr=\"\u041a\u043e\u043c\u0438\u0441\u0441\u0438\u044f \u043f\u043e \u0446\u0435\u043d\u043d\u044b\u043c \u0431\u0443\u043c\u0430\u0433\u0430\u043c \u0438 \u0431\u0438\u0440\u0436\u0430\u043c \u0421\u0428\u0410\" class=\"old_tooltip\">SEC<\/span> for the authority to regulate the digital-asset industry. Behnam, the CFTC chair, said this in a CNBC interview.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;It is figuring out how existing, decades-old law, fits into this new technology that seems to be changing and ultimately needs a new way of thinking around policy and legislating,&#8221; says <a href=\"https:\/\/twitter.com\/CFTCbehnam?ref_src=twsrc%5Etfw\">@CFTCbehnam<\/a> on <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a>. &#8220;Under existing law, many of the tokens constitute commodities.&#8221; <a href=\"https:\/\/t.co\/F3JPjWq3wG\">pic.twitter.com\/F3JPjWq3wG<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1734557418535756155?ref_src=twsrc%5Etfw\">December 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Behnam acknowledged that there is a pressing need for a comprehensive regulatory framework for digital assets.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>We are figuring out how a decade-old law fits into this new technology. The latter is changing and requires a new way of thinking about policy formulation. Under existing law, many tokens are commodities,<\/em> the official said.<\/p>\n<\/blockquote>\n<p>Behnam stressed that regulators and Congress must work together to close gaps in the regulatory framework.<\/p>\n<p>According to the head of the agency, one of the key problems is the &#8216;war for turf&#8217; between regulators \u2014 primarily the SEC and the CFTC \u2014 over who will regulate the growing sector.<\/p>\n<p>Behnam said that Congress should step into this dispute. Lawmakers can play a decisive role in legitimising and integrating cryptocurrencies into the existing financial system, he added.<\/p>\n<p>In his view, a challenge is the use of digital assets in illicit activity, including financing of terrorism. In this regard, AML and KYC play a decisive role.<\/p>\n<p>He also acknowledged that attention must be paid to market stability and integrity \u2014 ensuring customer protection and preventing market manipulation, he said.<\/p>\n<p>In November, Coinbase CEO Brian Armstrong<a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-ceo-complains-about-lack-of-feedback-from-the-sec\"> complained<\/a> about the lack of feedback from the U.S. Securities and Exchange Commission. The executive also noted the ongoing &#8216;turf war&#8217; between the SEC and the CFTC.<\/p>\n<p>In June, Behnam stated that the agency <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-seeks-expanded-powers-to-oversee-cryptocurrencies\">needs powers<\/a> to oversee cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The CFTC chair Rostin Behnam: most cryptocurrencies are commodities, and the CFTC is competing with the SEC for authority to regulate the digital-asset industry.<\/p>\n","protected":false},"author":1,"featured_media":88219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[879,36,128,1230],"class_list":["post-88218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cftc","tag-regulation","tag-sec","tag-us-congress"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=88218"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88218\/revisions"}],"predecessor-version":[{"id":88220,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88218\/revisions\/88220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/88219"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=88218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=88218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=88218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}