The U.S. Commodity Futures Trading Commission (CFTC) used the terms “commodities” for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) in its lawsuit filed against FTX.
CFTC, Sam Bankman-Fried, FTX and investment company Alameda Researchin his case against Ethereum, bitcoin and Tether“under U.S. law”, among others.commodity” he described. However, within the CFTC itself, at least in recent weeks, there is no question as to whether Ether should be viewed as a commodity. there are some disagreements looks like.
Chairman of the CFTC Rostin Behnamduring a crypto event at Princeton University on Nov. Bitcoin is the only cryptocurrency that should be seen as a commodity made statements suggesting that Behnam announced at the event that he retracted his previous comments claiming that Ether could also be a commodity.
However, 2 weeks later, the same institution’s mention of Ethereum as a commodity in the FTX case did not go unnoticed.
Certain digital assets, Bitcoin (BTC), Ether (ETH), and Tether (USDT) are “commodities” as defined in Section 1a(9) of the Code, 7 USC 1a(9).
Securities and Exchange Commission (SEC) Head Gary Gensler on 27 June Mad Money in the program Jim Cramer In an interview with Bitcoin, he confirmed that Bitcoin is a commodity and said, “That’s all I’m going to say.” said. Gensler has had an ambiguous stance on Ether in recent months. Gensler had previously suggested that Ether was a security after the initial coin offering, but has since become more decentralized and turned into a commodity.
The definition of crypto assets as “commodities” in the USA is important for the upcoming regulatory process. Because the CFTC regulates futures commodities, securities such as bonds and stocks are regulated by the SEC. Ultimately, this characterization means that cryptocurrencies an important role-sharing on which institution will be audited in the future. means.