TechFlow News, May 18 — In an interview, CFTC Chair Rostin Behnam stated that there are clear differences between the CFTC and the SEC under Gary Gensler’s leadership regarding their approaches to cryptocurrency regulation. Behnam said he feels a responsibility to protect American investors in the commodity financial markets, noting that many of these crypto tokens are commodities. BTC and ETH are commodities, and the listing of BTC and ETH futures on exchanges is "market-driven," supported by legal analysis.
Behnam explained that the lack of a central orchestrator or a common enterprise is what makes cryptocurrencies and other commodities distinct from securities. He criticized the U.S. SEC's approach to crypto regulation, stating, "I am very strongly opposed to enforcement-based regulation. I have done my best to remain transparent and engage with market participants in the DeFi space. Financial innovation serves the national interest."
