The CFTC chair has triple-downed the commodities regulator’s claim over Ether and crypto stablecoins, suggesting in a Senate hearing that the digital assets will be classed as commodities.
Asked what evidence the CFTC would put forward to win regulatory influence over Ether during the Senate hearing, Behnam said it “would not have allowed” Ether futures products to be listed on CFTC exchanges if it “did not feel strongly that it was a commodity asset,” and added:
“We have litigation risk, we have agency credibility risk if we do something like that without serious legal defenses to support our argument that [the] asset is a commodity.” The comment has seemingly cemented Behnam's sometimes wavering opinion on the classification of Ether. During an invite-only event at Princeton University in November last year he said Bitcoin
that could be viewed as a commodity, leaving out Ether. Only a month before that, he suggested Ether could be viewed as a commodity too.
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