According to the latest interview with Becky Quick by the 15th Chairman of CTFC, Rostin Behnam, BTC and ETH are the sole crypto assets for regulatory purposes. Despite CTFC and SEC’s major disagreement, they both play a crucial role in the cryptocurrency regulation.

Rostin Behman’s Recent Thoughts on CTFC Regulations

Chairman Rostin Behnam of the CFTC spoke on cryptocurrency regulations recently. Rostin Behnam, appointed by United States President Joe Biden, became the 15th Chairman of CTFC on 4th January. He was previously the Commissioner of CFTC from September to December 2017. On 21st January last year, the members of CTFC chose Behnam to be the acting chairman.

Becky Quick interviewed him on 16th May on cryptocurrency regulations and the roles of CTFC and SEC in this field, particularly regarding which agency has more authority in this space: The SEC and CFTC have a long-standing disagreement. 

Their bond has always been strong. They are continuing to connect and collaborate. Commodities should be under the control of the CTFC, while securities are under SEC regulation. In the world of digital assets and cryptos, where there are thousands of different types, it is only reasonable that there would be some securities and products.

Due to the originality of certain tokens and technology, it will be tough from a legal position to determine what will be considered security within conventional securities legislation and what will be considered more of a product so that the right regulation can be implemented, in my opinion, to sort between these 2 and determine where one could place each.

Rostin Behman’s Recent Thoughts on Commodities Vs. Securities

On the question of which cryptos are commodities and which are securities, the CFTC Chairman stated that he can state that BTC, which is the biggest of the currencies and will always be the biggest irrespective of the entire market value, is a product. There is no doubt that Ether is a product, as he has already explained. So, they have their predecessors.

Security tokens are not the only coins out there; there are also lots of commodity tokens. Because that is how things have been done traditionally, he believes that having separate agencies for securities and commodities is the best course of action.