CFTC Chair Raises Concerns about Potential Conflict with SEC Regarding Prometheum’s ETH Activities

The head of the commodities regulator has issued a warning that if the Securities and Exchange Commission (SEC) allows one of its registered firms, Prometheum, to custody Ether (ETH), it would classify it as a security and create a conflict with US financial market rules. Commodity Futures Trading Commission chairman Rostin Behnam testified before the House Committee on Agriculture, stating that both Bitcoin and Ether are commodities. He expressed his disagreement with Prometheum’s decision, stating that it does not align with the SEC’s view of Ether. Behnam emphasized the importance of market integrity and called for Congress to address the regulatory gap in the digital asset market.