CFTC Prepares to Step up Oversight of Crypto Market — Says Many Digital Assets Are Commodities

CFTC Prepares to Step up Oversight of Crypto Market — Says Many Digital Assets Are Commodities


The Commodity Futures Trading Commission (CFTC) has shared with Congress its plans to regulate the crypto market with “full oversight capabilities” if the proposed Digital Commodities Consumer Protection Act becomes law. The regulator claims to have the right experience and expertise and believes that “Many digital assets constitute commodities.” Meanwhile, SEC Chairman Gary Gensler has insisted that the vast majority of crypto tokens are securities.

CFTC Chairman’s Testimony on Crypto Regulation and the Digital Commodities Consumer Protection Act

The chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, discussed how his agency would regulate the crypto market in a legislative hearing Thursday before the U.S. Senate Committee on Agriculture, Nutrition, and Forestry.

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The purpose of the hearing was to review the Digital Commodities Consumer

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