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US CFTC Chairman: Under current law, many tokens constitute commodities

US CFTC Chairman: Under current law, many tokens constitute commodities

CointimeCointime2023/12/13 00:09
By:Cointime

Rostin Behnam, chairman of the US Commodity Futures Trading Commission (CFTC), admitted in an interview with CNBC that many tokens constitute commodities under current law. Behnam stated that we are trying to figure out how existing, decades-old laws adapt to this seemingly changing new technology, and ultimately need a new approach centered around policy and legislation. Under current law, many tokens constitute commodities. This direct statement provides much-needed clarity on the regulatory status of cryptocurrencies in the United States. Rostin Behnam also delved into the complex regulatory issues facing the cryptocurrency industry and emphasized the urgent need for legislative action. Behnam stated, I think members of Congress are trying to figure it out. Integrating new digital assets into traditional regulatory models is a challenge. Behnam also emphasized CFTC's commitment to stable markets in the interview.

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