CFTC chairman says that cryptos are, the former commissioner says they could be both
![In seiner Rede im Unchained-Podcast am 23. Mai trübte Dan Berkowitz die regulatorischen Gewässer noch weiter, indem er erklärte, dass Krypto-Assets sowohl Rohstoffe als auch Wertpapiere sein können. Der Gedanke widerspricht der Meinung des Vorsitzenden der Securities and Exchange Commission, Gary Gensler, der behauptet, es handele sich bei allen Wertpapieren um Wertpapiere mit Anlageverträgen. In Bezug auf Ethereum sagte er, es gebe einen „Sonderfall“, in dem etwas beides sein könne. „Es kann eine Ware im Rahmen des CEA sein [Commodity Exchange Act] und ein Wertpapier, und das wäre wie ein Terminkontrakt auf ein Wertpapier, das wäre wie ein Terminkontrakt auf …](https://krypto-news.at/cache/images/CFTC-Vorsitzender-sagt-Kryptos-seien-Waren-der-ehemalige-Kommissar-sagt-sie-1100.webp)
CFTC chairman says that cryptos are, the former commissioner says they could be both
In his speech in the Unchained Podcast on May 23, Dan Berkowitz continued to cloud the regulatory waters by explaining that crypto-assets can be both raw materials and securities.
The idea contradicts the opinion of the chairman of the Securities and Exchange Commission, Gary Gensler, who claims that all securities are securities with investment contracts.
In terms of Ethereum, he said there was a "special case" in which both could be both. "It can be a goods as part of the CEA [Commodity Exchange Act] and a securities, and that would be like a appointment contract to a securities, which would be like a deadline on Apple shares."
If the regulatory authorities still have ambiguity about the status of digital assets such as Ethereum, what hopes do the crypto companies have in relation to their compliance efforts?
🤔 For cryptocurrencies, it is called "raw materials" vs. "securities". Former CFTC Commissioner Dan Berkowitz says that an asset could actually be both.
🔊 Complete episode: https://t.co/bfubv7zoke pic.twitter.com/zaab4usfzn
- Laura Shin (@laurashin) 23. May 2023
Sure as mud
CFTC chairman Rostin Behnam also dealt with the burning question in a Bloomberg podcast published on May 23.
Behnam was asked whether the logic that was considered to be a goods for considering Ethereum could be applied to other Layer 1 blockchain assets such as Solana.
He said there were two listed deadline commuts for BTC and ETH, which is a "market -controlled effort of the stock exchanges and probably the customer issue" and has nothing to do with whether it is raw materials or securities.
Behnam added that a comprehensive legal analysis by stock exchanges and an open dialogue with the CFTC requires before such products can be listed. This was carried out before the approval of the BTC ETF in 2017 and the ETH ETF in 2020, he said and added:
"In connection with your question as to whether it is a security or a goods, there is no doubt that we check the characteristics of the financial financial value within the agency and at the employee level to ensure that it corresponds to the law and is under the definition of a goods and, which is even more important, there is no more important."
"If you add the definition of a goods as part of the CEA, you can see that almost everything is a goods, including securities," he added.
How do you regulate crypto? Is it a security, goods or something else? CFTC Chairman Ros Behnam will be included in this ODD LOTS episode, which was recorded live at the ISDA annual conference https://t.co/tkyoxa3fcx
- Bloomberg Crypto (@Crypto) 21. May 2023
The pressure to regulate lasts
Meanwhile, the SEC, which assumes that there are only very few crypto-assets, continues to be hard against companies in the field of digital assets.
As long as these two federal authorities do not work together and define digital assets under the guidance of the congress, regulatory uncertainty will stop in the USA and promote talents, innovations and investments abroad.
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