
CFTC chair Rostin Benham deems Ethereum, stablecoins to be commodities
Rostin Benham's statements were made before senators and as an indirect response to the SEC.
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Ripple CEO Brad Garlinghouse said the US crypto industry need to rebuild trust by enabling more transparency and creating utility.

The hearing was held in response to the Crypto-Asset Environmental Transparency Act introduced in December.

The article published in Lexology looks into the future of stablecoins ahead of major regulations set to come down this year in the US.

The "Digital Asset Mining Protection Act" will be voted on the Missouri House floor before moving to the Senate.

Despite Europe's significant cryptocurrency economy, the expansion of EUR-based stablecoins has been lackluster thus far.

Powell urges Congress to create a workable legislative framework for digital assets, as US lags behind UK, EU, Switzerland, and Singapore.



