📢CFTC sets the tone, Bitcoin and Ethereum are classified as commodities, and the crypto market ushers in spring! 🚀! 🌟
The latest statement from the Commodity Futures Trading Commission (CFTC) of the United States has brought positive signals to the cryptocurrency market.
📢CFTC Director Rostin Behnam clearly stated that Bitcoin and Ethereum should be classified as commodities, not securities. This position is undoubtedly good news for the entire cryptocurrency field. The head of the CFTC also mentioned that in the cryptocurrency world, more than 70% of cryptocurrencies also fall into the category of commodities.
If this classification is confirmed and implemented, it is expected that all cryptocurrencies will be regulated by the CFTC in the future, which will help eliminate many uncertainties that currently plague the market. In particular, for the so-called "altcoins", they have been facing questions from the U.S. Securities and Exchange Commission (SEC), which has previously believed that these cryptocurrencies are securities rather than commodities.
Because long before this, the SEC has been suing exchanges such as Coinbase, accusing them of trading unregistered securities, which has always been a pain point in the market.
But if cryptocurrencies are clearly defined as commodities and regulated by the CFTC, then these legal issues may be alleviated. It is worth noting that some of the CFTC's members have a more friendly attitude towards cryptocurrencies, which may help move the industry forward.
This clear and positive change in regulation may bring new vitality to the cryptocurrency market, indicating that the next wave of altcoin gains may be coming.
Investors and market participants should pay close attention to the dynamics of this regulatory development in order to better grasp future market opportunities.
