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US CFTC Chairman: Bitcoin is the only cryptocurrency that should be considered a commodity

December 1, 2022
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Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said CFTC has limited enforcement capabilities and lacks direct regulatory powers, and called on U.S. lawmakers and policy makers to act as soon as possible.

In addition, Behnam also pointed out that cryptocurrencies are different from any commodity they have dealt with, and it is common practice as a speculative retail market, but BTC is the only cryptocurrency that should be considered a commodity. Earlier in the October news, Behnam said that ETH may also be a commodity.

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