The chairman of the U.S. CFTC stated that most cryptocurrencies are commodities and acknowledged that it is in a dispute with the SEC over regulatory authority in the cryptocurrency industry

ChainCatcher news, according to IBtimes, the chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, stated that under current law, most crypto assets are commodities, while acknowledging that there is a "turf war" among regulators over who will oversee the cryptocurrency industry.

When discussing the complex regulatory issues facing the cryptocurrency industry, the CFTC chairman emphasized the necessity of urgent legislative action, saying, "Congress members are working to figure out the landscape." Behnam pointed out that one of the challenges in regulating digital assets is the ongoing "turf war" among domestic regulatory agencies, particularly the debate between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over who should regulate the industry. This conflict has become a significant obstacle to establishing clear regulatory guidelines for digital assets and the broader cryptocurrency industry.