CFTC Chairman Reiterates Assertion That Ether Is a Commodity

The chairman of the US Commodity Futures Trading Commission reiterated his view that Ether is a commodity, despite recent comments from another markets regulator suggesting the cryptocurrency is a security.

Bitcoin futures contracts were first listed on regulated US exchanges in 2017, with Ether-based products following a few years later. Because the derivatives are traded on exchanges that are overseen by the CFTC, the assets they’re based on — in this case Bitcoin or Ether — should be considered commodities, CFTC head Rostin Behnam said Tuesday at a hearing before the House Appropriations Committee, repeating a stance he’s taken before. ...