FOX Business reporter Eleanor Terrett follows the developments of tonight's digital goods regulation hearing on Platform X.
At the hearing, Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFT), said that an Illinois court had ruled that both BTC and ETH were commodities under the Commodity Exchange Act. Behnam also mentioned that 70-80% of the cryptocurrency market does not constitute securities.
Earlier news, the Democrats of the U.S. Senate Agriculture, Nutrition and Forestry Committee/Republicans of the Senate Agriculture Committee and the U.S. Commodity Futures Trading Commission (CFTC) will hold a digital commodity regulation hearing at 10:00 tonight.