During the interview, Rostin Behnam once again publicly expressed his opinion and the general position of the regulator regarding the internal content of most digital assets.
“Decades-old legislation does not fit well into the new technology landscape, which is changing rapidly and requires a different approach to policy, legislation and regulation. But even in this situation, in accordance with current US law, many digital tokens fall within the definition of goods,” Banham said.
The head of the CFTC acknowledged the problem of the traditional regulatory model when creating and promoting digital assets and emphasized that the regulator and members of Congress are trying to find a way out of the situation facing the crypto industry.
On the fundamental question of which cryptocurrencies should be classified as commodities and which should be treated as securities, the CFTC’s view differs fundamentally from that of the US Securities and Exchange Commission (SEC).
Banham’s appearance on CNBC illustrates that the intense conflict of interest phase between the CFTC and SEC in the fight for regulatory oversight of the crypto industry is far from over.
Previously, SEC Chairman Gary Gensler said that existing securities regulatory laws are sufficient to hold crypto companies accountable for non-compliance with regulatory requirements.
Source: Bits
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