{"id":33992,"date":"2024-07-10T20:55:15","date_gmt":"2024-07-10T20:55:15","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cftc-chair-says-70-80-of-cryptocurrencies-are-non-securities\/"},"modified":"2024-07-10T20:55:15","modified_gmt":"2024-07-10T20:55:15","slug":"cftc-chair-says-70-80-of-cryptocurrencies-are-non-securities","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cftc-chair-says-70-80-of-cryptocurrencies-are-non-securities\/","title":{"rendered":"CFTC Chair says 70-80% of cryptocurrencies are non-securities"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/shutterstock_781859251-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/shutterstock_781859251-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/shutterstock_781859251-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/shutterstock_781859251-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">CFTC Chair Rostin Behnam says a majority of cryptocurrencies, 70-80%, are non-securities.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Behnam appeared before the \u00a0U.S. Senate Committee on Agriculture, Nutrition and Forestry\u2019s Hearing on the Oversight of Digital Commodities on Wednesday.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Rostin Behnam, the chairman of the Commodities Futures Trading Commission (CFTC), has reiterated his belief that the CFTC is better placed as the agency to oversee crypto.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The CFTC chair made the comments in a <a href=\"https:\/\/www.cftc.gov\/PressRoom\/SpeechesTestimony\/opabehnam48\" target=\"_blank\" rel=\"noopener\">testimony<\/a> during the \u00a0U.S. Senate Committee on Agriculture, Nutrition and Forestry\u2019s Hearing on the Oversight of Digital Commodities on Wednesday.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Behnam told lawmakers of the recent court rulings in Illinois that declared Bitcoin (BTC) and Ethereum (ETH) are commodities.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cJust last week, a District Court in the Northern District of Illinois entered summary judgment in favor of the CFTC in a case involving fraud by an unregistered entity that promised steady returns in digital asset commodities such as Bitcoin and Ether. In its decision, the court re-affirmed that both Bitcoin and Ether are commodities under the Commodity Exchange Act,\u201d he said in a testimony.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the same manner, the CFTC chair noted that most of the <a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/\">cryptocurrencies<\/a> in the market are not securities, with a percentage applicable to this being around 70-80%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Behnam also talked of the Commission\u2019s regulatory efforts, particularly in bringing enforcement actions against individuals and entities that breach the commodities laws, including in the digital commodities market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The CFTC has over the past few years filed more than 135 digital commodity-related cases, with the lawsuits resulting in billions of dollars in penalties and restitution. <\/span><\/p>\n<p><span style=\"font-weight: 400\">While the CFTC continues to work with\u00a0 law enforcement, there\u2019s continued escalation of digital asset fraud and other violations, largely down to \u201caccelerated and sustained adoption of digital assets by U.S. investors.\u201d<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/cftc-chair-says-70-80-of-cryptocurrencies-are-non-securities\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) CFTC Chair Rostin Behnam says a majority of cryptocurrencies, 70-80%, are non-securities. Behnam appeared before the \u00a0U.S. Senate Committee on Agriculture, Nutrition and Forestry\u2019s Hearing on the Oversight of Digital Commodities on Wednesday. Rostin Behnam, the chairman of the Commodities Futures [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":33993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33992"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33992"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33993"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}