Most altcoins will fall under the SEC’s purview according to Senators Lummis and Gillibrand — but there will be some exceptions, including Bitcoin and Ether.
Rostin Behnam, chair of the CTFC, was also at the event and took a slightly different view on the proportion of altcoins that are securities. He said that while there are “probably hundreds” of coins that replicate security coins, there are also many commodity coins, such as BTC and ETH, that should be regulated by the CFTC.
Tony Tuths, head of the digital assets team at KPMG US, told Cointelegraph that the legislation, under its current form, is unlikely to “move forward” in the foreseeable future, adding it was unclear what coins will ultimately fall within the purview of the SEC versus the CTFC.
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