Exchange Act (CEA). Does the CFTC oversee Bitcoin? The U.S. Commodity Futures Trading Commission’s (CFTC) jurisdiction is implicated when a virtual currency is used in a derivatives contract, or if there is fraud or manipulation involving a virtual currency traded in interstate commerce.
Will Bitcoin & Ethereum become digital commodities under the CFTC?
On Wednesday, Rostin Behnam, Chairman of the US Commodities Futures Trading Commission (CFTC), confirmed that a court in Illinois has officially recognized the status of Bitcoin and Ethereum as digital commodities under the Commodity Exchange Act. This decision could revolutionize the crypto world or plunge it into regulatory chaos.
Is bitcoin a commodity?
Yes, virtual currencies, such as Bitcoin, have been determined to be commodities under the Commodity Exchange Act (CEA). Does the CFTC oversee Bitcoin? The U.S. Commodity Futures Trading Commission’s (CFTC) jurisdiction is implicated when a virtual
