U.S. CFTC Chairman: Prometheum's Stance on Ether May Spark Conflict Between Regulators

U.S. Commodity and Futures Trading Commission Chairman Rostin Behnam said Prometheum, the first and only firm to receive a special purpose broker-dealer license from the U.S. SEC, is gearing up for its trading operations, and its stance on ethereum could spark a clash between regulators. Behnam said both bitcoin and ethereum are commodities, but things could get complicated if the SEC says otherwise. He said, "It's obviously very critical ...... If the SEC does take any action to essentially validate Prometheum's decision to treat Ether as a security, then it would classify our registrant or exchange as one of the futures contracts not complying with SEC rules, which is contrary to CFTC rules".