CFTC Chairman Rustin Benham stated that a significant majority, between 70-80%, of tokens in the cryptocurrency market are not classified as securities.
He also highlighted a recent Illinois court decision affirming Bitcoin and Ethereum as commodities under the Commodity Exchange Act, as reported by Fox News’ Eleanor Terret.
In contrast, SEC Chairman Gary Gensler maintains that a majority of cryptocurrencies should be classified as securities.
Senator Roger Marshall raised the issue of conflicting views between the SEC and CFTC on the regulatory classification of digital assets during discussions with the CFTC chairman.
Marshall suggested consolidating oversight of all cryptocurrencies under the CFTC, expressing his support for such a move and believing the agency has the necessary expertise to regulate cryptocurrencies effectively.
He acknowledged the need for adjustments to definitions within the regulatory framework to accommodate this change.
BNB Chain has announced a major update designed to enhance its stablecoin infrastructure by introducing gasless transactions.
Fintech giant Revolut is planning to launch its own stablecoin. Sources indicate that Revolut, which recently secured a U.K. banking license and was valued at $45 billion earlier this year, is progressing well with this initiative.
Whale activity around the Artificial Superintelligence Alliance (FET) has increased dramatically, with large transactions up 262%, as reported in IntoTheBlock data.
WalletConnect is preparing to unveil its new Connect Token (WCT) on the Optimism OP Mainnet, an Ethereum Layer 2 network.