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International Business Times
International Business Times
Business
Nica Osorio

CFTC Chair Claims Most Cryptocurrencies Are Commodities, Admits There's A 'Turf War' Going On Over Crypto

CFTC Crypto Rostin Behnam SEC Gary Gensler Bitcoin United States

KEY POINTS

  • The SEC and the CFTC is reportedly on a "turf war" over who gets to regulate the crypto industry
  • Behnam had previously said Ethereum and stablecoins are commodities
  • SEC's Gensler said all crypto assets except Bitcoin are securities

The chairman of the Commodities Futures Trading Commission has said most crypto assets are commodities under existing laws, while admitting that there is a "turf war" going on between regulatory bodies on who gets to regulate the cryptocurrency industry.

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