The U.S. Commodity Futures Trading Commission (CFTC) stated in its Dec. 13 court filing against FTX founder Sam Bankman-Fried that digital assets like Bitcoin(BTC), Ethereum (ETH), and Tether (USDT) are commodities.
Source: CFTC Court Filing
CFTC wrote that these digital assets are commodities because they meet the definition of the term as defined by the U.S. Constitution.
Does the CFTC Chairman hold a different opinion?
While the CFTC lawsuit said ETH was a commodity, CFTC chairman Rostin Behnam appears to hold a different opinion of the asset.
At a recent private crypto event at Princeton University, Benham said BTC was the only cryptocurrency that should be classified as a commodity.
The statement was in contrast to previous ones made by the regulatory chief. In May, Benham said Bitcoin and Ethereum were fit to be labeled commodities in a CNBC interview.
He also reportedly made a similar statement at a New York event in October, suggesting that the SEC chair Gary Gensler has a diff
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