The CFTC chair challenges the SEC's scrutiny, asserting that most cryptocurrencies are not securities, which could reshape the regulatory landscape for the industry.
Key Insights:
The SEC's ambiguous and stringent stance on crypto has been problematic for the industry for years.
The agency has pursued legal action against nearly every major company in the sector over securities law violations.
In a recent Illinois court hearing, CFTC chair Rostin Behnam stated that 70% - 80% of cryptocurrencies are NOT securities.
This view contrasts with SEC Chair Gary Gensler's perspective on crypto, expressed on several occasions.
The CFTC might soon take over crypto regulation.
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