One of America’s largest financial regulators, the CFTC, is involved with commodities and has connections to cryptocurrency. Although the SEC wants the CFTC to largely stay out of crypto, the CFTC argues that most altcoins are commodities, not securities. Today, Behnam made some statements. What did he say about the future of crypto?
CFTC Crypto Predictions
CFTC Chairman Behnam believes that in the next 6-24 months, cryptocurrencies might experience growth in the absence of a regulatory framework. Speaking at an event today, Behnam thinks this environment, where cryptocurrencies are gaining value and individual investors are showing more interest, could trigger new sanction cycles.
Indeed, the SEC has already filed lawsuits against many cryptocurrency companies, considering many altcoins as securities/investment contracts. Behnam’s statements might be seen as a signal that the CFTC could also take some steps in this matter. As the turmoil in the US economy continues, the number of legal challenges cryptocurrencies must fight is also increasing. Crypto companies are not giving up, and the defeats SEC faces in courtrooms could, like opening doors for ETFs, also enable more freedom.
