According to a tweet from Michael Saylor, the head of CFTC, Rostin Behnam restated that only Bitcoin should be regarded as a commodity, leading to a complete retraction of his earlier remarks in which he claimed that Ether is likewise a commodity.
Interestingly, Behnam recently stated the opposite during a speech for the Rutgers Center for Corporate Law and Governance on October 24, as Coincu reported.
Ether, I’ve suggested that it’s a commodity, I know Chairman Gensler thinks otherwise — or at least hasn’t certainly declared one or the other.
said Behnam at an event in New York City hosted by Rutgers University
As late as early October, several CFTC representatives, including commissioner Christy Romero, had the same viewpoint. At a gathering, Romero declared that she continues to take the position that Ethereum is a commodity, even with proof of stake.
In recent months, Gensler, the SEC head has passionately argued that Ethereum’s switch to proof of stake and its fixed-income returns may justify classification as a security and asked for stricter enforcement actions.
All of which could be a very bad sign for the entire crypto industry. Fears that American officials may crack down more harshly on cryptocurrency in recent days following the collapse of FTX.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Thana
Coincu News
Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…
Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…
Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…
PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.
President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…
Imagine you’re navigating the unpredictable seas of cryptocurrency, where market waves can knock the unprepared…
This website uses cookies.