Coinspeaker
CFTC Issues Verdict on BTC, ETH, USDT, Calls Them Commodities
Categorizing crypto assets has been a long-time struggle for global regulators including the Commodity Futures Trading Commission (CFTC). However, a December 13 court filing has now revealed that digital assets should be seen as commodities. According to CFTC, these include Bitcoin (BTC), Ether (ETH), and Tether (USDT), among others. Per the filing, digital assets include anything that may be “stored and transmitted electronically” and had “associated ownership or use rights.” The filing read in part:
“Certain digital assets are “commodities,” including bitcoin (BTC), ether (ETH), tether (USDT) and others, as defined under Section 1a(9) of the Act, 7 U.S.C. § 1a(9).”
Meanwhile, the filing indicates a major deviation from the previous position of the CFTC chief, Rostin Behnam, concerning the matter. Recall that on November 30, Behnam opined that BTC is the only cryptocurrency that should be regard
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