China News by Thebittimes.Com

Over 75 talks about international crypto rules had been attended by Pham, who noted that “a very advanced discussion is happening outside the United States.” Pham also thinks that the crypto catastrophe from last year could have been avoided with clearer laws and public discussions. advertisement More Clarity With The Ripple Win Pham expressed excitement about taking part in regulatory working groups and expressed the hope that other US agencies, such as the Securities and Exchange Commission , would collaborate to develop a “holistic approach” to crypto regulation. She said: “You know, last year I said that we were going to see regulatory clarity first in the courts around the definition of a security, and I think we’ve seen that with some very big court opinions that have been released.” Beyond Ripple, the verdict’s repercussions are felt on Wall Street and in Silicon Valley. It appears that retail trader...

In the tug-of-war between the US regulators over control of crypto assets, the CFTC chair has triple-downed his stance — that Ether and stablecoins are commodities. Stablecoins and Ether (ETH) are commodities and should come under the purview of the United States Commodity Futures Trading Commission (CFTC), its chairman has again asserted at a recent Senate hearing. At the Mar. 8 Senate Agricultural hearing, CFTC chair, Rostin Behnam, was asked by Senator Kirsten Gillibrand about the differing views held by the regulator and the Securities and Exchange Commission (SEC) following the CFTC’s 2021 settlement with stablecoin issuer Tether, Behnam said: “Notwithstanding a regulatory framework around stablecoins, they’re going to be commodities in my view.” “It was clear to our enforcement team and the commission that Tether, a stablecoin, was a commodity,” he added. In the past, the CFTC has asserted that certain digital assets such as Ether, Bitcoin (BTC) and Tether (USDT) were commoditie...

Despite existing for over a decade now, categorizing crypto is still a hassle for several governments. While some view these assets as money, a few others continue to label them as securities and commodities. Ethereum [ETH] the world’s second-largest crypto continues to create confusion among investors about its identity. Now, however, Commodity Futures Trading Commission [CFTC] Chair Rostin Behnam decided to step up and suggest that ETH was a commodity. Speaking at a recent event, Behnam pointed out how his opinion about Ethereum was different from Securities and Exchange Commission [SEC] Chair Gary Gensler’s perception of the altcoin. Time and again, Gensler steered away from expressing his stance on Ethereum. However, just before the network transitioned into proof-of-stake via the Merge, Gensler hinted that Ethereum could be viewed as a sec urity. In addition to this, Gensler suggested that Bitcoin [BTC] was the only crypto that should be considered a commodity. ...