Dawn DeBerry Stump, Commissioner of the Commodity Futures Trading Commission (CFTC), has addressed a widespread “misunderstanding about U.S. regulatory delineations” which suggests that the agency is responsible for directly regulating cryptocurrencies.
“There has often been a grossly inaccurate oversimplification offered which suggests [cryptocurrencies] are either securities regulated by the Securities and Exchange Commission, or commodities regulated by the Commodity Futures Trading Commission. The prevalence of this misunderstanding about U.S. regulatory delineations has grown to a point that I believe requires correction,” she wrote.
According to a presentation published on Monday, the definition of a “commodity” provided by the Commodity Exchange Act (CEA) is quite broad, so classifying a certain cryptocurrency as such would be “unremarkable” today. However, even if a digital asset is officially deemed a commodity, this still doesn’t mean that the CFTC is respon
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