According to online reports, Rostin Behnam, former chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that unless the CFTC is given greater regulatory authority, the cryptocurrency market will continue to be unregulated. Behnam supports the crypto industry's long-standing view that cryptocurrencies are commodities, pointing out that under current law, major tokens, including Bitcoin and Ethereum, are commodities, and the Securities and Exchange Commission (SEC) has no jurisdiction over these tokens. Since SEC law does not allow it to regulate commodities and the CFTC can only regulate derivatives, if the CFTC is not given new authority to regulate "non-securities assets in the digital asset spot market," the area will continue to be unregulated, which may expose investors to risks such as fraud, manipulation and conflicts of interest.