While FED President Jerome Powell spoke at the US House of Representatives Finance Committee, CFTC Chairman Rostin Behnam spoke at the Senate Agriculture Committee.

In his speech, Behnam said that 70-80% of tokens in the crypto market are not securities.

Additionally, the CFTC Chairman said that the US Illinois court confirmed that Bitcoin and Ethereum are commodities under the Commodity Exchange Act.

“Illinois court has confirmed that Bitcoin and Ethereum are commodities.”

CFTC Chairman Behnam says an Illinois court confirmed that $BTC and $ETH are digital commodities under the Commodity Exchange Act.

— Eleanor Terrett (@EleanorTerrett) July 10, 2024

*This is not investment advice.