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.
Crypto analytics firm Alphractal has released new insights into the altcoin market, highlighting RAY as the token with the highest long-to-short ratio among major altcoins.
The dream of Dogecoin reaching $1 is alive and well among its community, even though the coin remains stuck under $0.20.
Donald Trump’s memecoin project has seen a noticeable shift in activity following his announcement of exclusive rewards for major tokenholders, including a private dinner and a possible White House tour.
Momentum is building around Solana (SOL), with some market watchers suggesting it could soon surpass Ethereum (ETH) in performance if the crypto market heats up again.