Prometheum’s ETH ventures may lead to conflict with SEC, CFTC chair warns

The head of the commodities regulator has issued a warning about the potential conflict between the Securities and Exchange Commission (SEC) and the United States financial market rules regarding Ether (ETH). Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), testified before the House Committee on Agriculture, stating that both Bitcoin and Ether are commodities. He expressed his concerns about a recent decision by SEC-licensed Prometheum to offer ETH custody services, stating that it could classify Ether as a security and create a conflict with the CFTC’s rules. Behnam emphasized the importance of preserving market integrity and referred to the long-established decision that Ether is a commodity. He also called for Congress to take action to address the regulatory gap in the digital asset market.