Breaking: CFTC Chair Reiterates “ETH Is Commodity” Stance Amid SEC Lawsuits
Crypto Market News: US Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam on Tuesday reiterated his stance that Ethereum is a commodity and not security. This comes at a time when the U.S. Securities and Exchange Commission (SEC) filed back to back complaints against two of the world’s top crypto exchanges, Binance and Coinbase over violation of financial regulations. The SEC had been emphasizing that crypto businesses operating in the United States come forward and register digital asset trade related operations with it. However, there is no clarity as to which laws would the crypto assets fit under.
Also Read: “We Don’t Need More Digital Currencies”: SEC Chairman Gary Gensler
Gary Gensler, the SEC Chair had recently stirred a controversy in the crypto market by saying that everything other than Bitcoin is a security. He maintains that Bitcoin is not a security but a commodity under the CFTC’s jurisdiction. On the contrary, CFTC Chair Behnam had been saying that Ethereum qualifies as a commodity. This confusion and uncertainty, as things stand, is still not resolved although efforts are on with a draft bill to categorize which assets are securities and commodities.
“Ethereum Is A Commodity”
Speaking in a US House Committee hearing on “The Future of Digital Assets: Providing Clarity for Digital Asset Spot Markets,” Behnam reiterated his stance on Ethereum being a commodity. The question arose when Congressman Austin Scott said crypto assets were clearly not securities and that the assets should be regulated by the CFTC and not the SEC. The CFTC Chair replied,
“I’ve argued in the past that Ether is a commodity.”
Interestingly, the debate around altcoins being securities Vs commodities emerged on Monday with the SEC Binance lawsuit mentioning as many as 10 altcoins including Solana (SOL), Cardano (ADA), Polygon (MATIC) saying they were being traded on the platform as securities.
Also Read: Elon Musk Shills Dogecoin as SEC Designates Top Cryptos as Securities
- Peter Brandt Flips Bullish on Bitcoin, Ethereum, XRP, and XLM
- Binance to Compensate Users After Ethena’s USDe Depeg During Crypto Market Crash
- Tom Lee’s Fundstrat Predicts Ethereum Rally to $5,500 Following ETH ‘Bottom’
- Is the Bitcoin Top In? Raoul Pal Signals Higher Liquidity Cycle Despite Market Selloff
- Expert Says XRP ETF Approval Is ‘Getting Close’ As Issuers File Amendments
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
