A recent development highlights the ongoing interagency drama between the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC): the classification of major cryptocurrencies has become a focal point of contention.
Once again, the CFTC has affirmed its position that Ethereum (ETH) and several other cryptocurrencies should be classified as commodities, intensifying the battle for regulatory oversight in the expansive digital assets industry.
Regulatory Rift With SEC Over Bitcoin, Ethereum, And Litecoin Classification
The latest episode in this regulatory feud unfolded with the CFTC filing a complaint against the crypto exchange KuCoin, coinciding with the unsealing of an indictment by the US Department of Justice (DOJ) against KuCoin and its founders, Chun Gan and Ke Tang.
The CFTC’s complaint alleged that KuCoin engaged in illegal off-exchange commodity futures transactions and leveraged, margined, or financed retail commodity
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