So far, the classification of digital assets has not been unanimously accepted by regulators. If the boss of the SEC has chosen to consider all altcoins as securities, the chairman of the CFTC believes that Ether and stablecoins are commodities. Between the two saints, on which to devote oneself?
Ethereum (ETH) is also a commodity
On February 26, we reported that Gary Genslerin an interview with New York Magazine, said that altcoins are securities. By “altcoin”, we mean all crypto currencies except bitcoin (BTC). The man who snubbed CZ was finedan avalanche of criticism from pro-crypto lawyers on occasion.
Yesterday, Blockchain Tipsheet revealed that Rostin Behnam does not share this opinion.. According the chairman of the Commodities and Futures Trading Commission, Ethereum (ETH) and stablecoins are also commodities.
” She [l’ethereum] has been listed on CFTC exchanges for some time… We wouldn’t have allowed the Ether futures product to be listed on a CFTC exchange if we weren’t confident it was a commodity “.
Regarding stablecoins, here is what he told the Senate Agriculture Committee last Wednesday:
” In reviewing the circumstances surrounding the Tether case, it became clear to our law enforcement team and the Commission that the stablecoin Tether was a commodityand that we had to move forward, and quickly, to control this market. »
What about the opinions of other regulators?
The Belgian Financial Markets Authority (FSMA) argued that bitcoin and ether are not securities. Because it does not consider as “securities” or financial instruments virtual currencies that cannot be negotiated. same for me all cryptocurrencies proving a right to the supply of a product/service and which can be used as an investment.
Otherwise, they are securities or commodities.
Let’s not forget either that the Howey test classifies as a security an asset sold to raise funds from the public. It will generate corollary benefits based on the efforts of others.
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