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.
An early Ethereum investor has cashed out a portion of their holdings after nearly 8.5 years, making a substantial profit.
Recent onchain data revealed that a major cryptocurrency investor, often referred to as a “whale,” has taken a significant financial hit on an altcoin investment and fully exited the market.
A prominent crypto analyst has issued a warning, suggesting that the remainder of 2024 doesn’t bode well for altcoins.
The XRP community got some good news and is very excited over what seems to be a new listing on popular exchange Robinhood.