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Is Ethereum a commodity? The SEC thinks differently

For CFTC Chair Rostin Benham, Ethereum is a commodity.

By Mike Hesp
• 2 min read
Is Ethereum a commodity? The SEC thinks differently

For CFTC chair Rostin Benham, Ethereum is a commodity. The SEC doesn’t agree, so a way to work together must be found.

During a scientific conference on crypto and blockchain regulation in the U.S., the chair of the Commodity Futures Trading Commission (CFTC) confirmed that Ethereum should be regulated as a commodity. This was reported by Fortune.

So far, the two U.S. regulators have disagreed. Earlier, the SEC claimed that Ethereum would fall under securities laws.

"It’s pretty cynical to see the two agencies can’t agree and can’t work together," Benham said.

It goes on: "I proposed classifying Ether as a commodity, but SEC Chair Gary Gensler thinks differently."

How to work with the "SEC regarding a product in the gray area" is the "one million dollar question," he said. The two authorities, however, have already shown that collaboration can work. Because the insolvent crypto hedge fund 3AC would have violated U.S. laws, they are conducting joint investigations.

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