CFTC Chairman: Securities can be turned into commodities and vice versa

Heath Tarbet, chairman of the Commodity Futures Trading Commission (CFTC), said at DC Fintech Week on Monday that securities could be turned into commodities and vice versa. Tarbet stressed that the US Securities and Exchange Commission (SEC) is the entity that determines what is a security, while the definition of a commodity falls under the jurisdiction of the CFTC. At the same time, the SEC has made a series of blows to the ICO that it believes to be the token of securities. Earlier this month, regulators launched an emergency lawsuit against Telegram and TON issuers on the grounds that they sold their Gram tokens without registration, and the SEC treated them as securities. Prior to this, an unregistered ICO settlement was between the SEC and the company behind the EOS blockchain, which paid a $24 million fine.