- CTFC has repeatedly referred to ETH, BTC, and USDT as commodities under US law.
- CTFC Chief Rostin Behnam has previously suggested that Bitcoin is the only cryptocurrency that should be considered a commodity.
- CTFC is suing Sam Bankman-Fried, FTX, and sister company Alameda Research.
of Commodity Futures Trading Commission (CFTC) In its lawsuit against Sam Bankman-Fried, FTX and its sister company Alameda Research repeatedly referred to Ether, Bitcoin and Tether USDT as commodities under US law. The CFTC filed him in court on December 13th.
The latest reference to various cryptocurrencies as commodities comes about a month after CFTC chief Rostin Behnam suggested that Bitcoin was the only cryptocurrency that should be considered a commodity.
In its court filings, the CFTC said:
“Certain digital assets are “commodities,” including Bitcoin (BTC), Ether (ETH), Tether (USDT), etc., defined in Section 1a(9) of the Act, 7 USC § 1a(9). increase. “
Is Ether a Commodity or a Security According to the CFTC?
Over the past few weeks, there seems to be some disagreement within the CFTC on whether Ether should be considered a commodity.
At a cryptocurrency event at Princeton University in November, CFTC chief Rostin Benham suggested that bitcoin was the only cryptocurrency that should be considered a commodity, following previous comments that claimed Ether as a commodity. has withdrawn.
In June of this year, Securities and Exchange Commission Chairman Gary Gensler said in an interview with host Jim Cramer on The Mad Money Show that Bitcoin is a commodity and said, “What I’m trying to say is That’s it,” he said. Gensler previously suggested that Ether was a security after initials he coin offerings (ICOs), but became a commodity after it became more decentralized. But in September, his stance on Ether appeared to change again after he suggested: Most cryptocurrencies could be considered securities Under Howey test.
The CFTFC regulates commodity futures, while the Securities and Exchange Commission (SEC), which has a legal battle with many crypto startups, regulates securities, so the designation of cryptocurrencies in the United States is important. .
