CFTC Chair Rostin Behnam Says Stablecoins Are Commodities At Senate Agriculture Hearing | Crypto Craft

  • CFTC Chair Rostin Behnam Says Stablecoins Are Commodities At Senate Agriculture Hearing

    From blockchaintipsheet.com

    Today’s CFTC oversight hearing by the Senate Agriculture Committee was broad in its remit as Commodity Futures Trading Commission Chair Rostin Behnam provided an overview of the latest and greatest at his agency. Chairwoman Sen. Debbie Stabenow’s (D, MI) opening remarks made clear digital assets were on the agenda with an allusion to recent events in digital assets such as FTX saying, “The massive customer losses caused by this misconduct highlight exactly why we need federal oversight of the crypto industry, and I remain committed to working with my colleagues to hold crypto companies to the same rules as ... (full story)

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raklian
Mar 8, 2023 1:05pm
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I disagree. Stablecoins should be a class of their own, a mixed-asset-backed digital currency. To claim stablecoins are commodities is to assume they change in value over time which isn't the intent.
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