CFTC Chairman: Bitcoin is the only cryptocurrency that should be considered a commodity

ChainCatcher news, according to Forbes, the chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, stated at a cryptocurrency event held at Princeton University that the CFTC's enforcement capabilities are limited and lacks direct regulatory authority, calling on U.S. lawmakers and policymakers to take action as soon as possible.

Behnam noted that cryptocurrencies are different from any commodities they have dealt with before, pointing out the general behavior of cryptocurrencies as speculative retail markets, but "BTC is the only cryptocurrency that should be considered a commodity."

Previously in May, Behnam stated that Bitcoin and Ethereum are commodities, while some digital assets are securities. (Forbes)