Both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have claimed jurisdiction over the crypto industry. A CFTC commissioner clarified that pure commodities, including crypto assets, or their trading venues are not regulated by the SEC.
Regulation of Crypto Assets by SEC and CFTC
A commissioner with the U.S. Commodity Futures Trading Commission, Brian Quintenz, clarified Wednesday that pure commodities, including crypto assets, fall under the jurisdiction of his agency.
He tweeted: “Just so we’re all clear here, the SEC has no authority over pure commodities or their trading venues, whether those commodities are wheat, gold, oil …. or crypto assets.”
Quintenz’s clarification followed the statements by SEC Chairman Gary Gensler on Tuesday and Wednesday regarding the regulation of the crypto industry whenever investment products are considered securities.
Gensler stressed that there is not enough investor protection when it
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