Big announcement: CFTC Chairman confirms BTC and ETH are not securities! 🚨
During a recent Senate committee hearing, U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam made a major announcement, clarifying that Bitcoin (BTC) and Ethereum (ETH) are classified as commodities under the Commodity Exchange Act. This announcement echoes the ruling of the Illinois District Court, further solidifying their status.
Fox Business News reporter Eleanor Terrett reported that Behnam emphasized the significance of this classification to the cryptocurrency market. Under the CFTC's jurisdiction, Bitcoin and Ethereum, as digital commodities, are tradable commodities like traditional commodities such as gold or oil, rather than securities representing company ownership.
Increased market acceptance:
Regarding BTC and ETH as commodities eliminates market uncertainty and helps promote broader acceptance and development of the cryptocurrency market.
This classification may reduce regulatory uncertainty and promote market growth.
Clarity of regulatory framework:
CFTC's jurisdiction clarifies the regulatory environment for BTC and ETH, helping investors better understand and comply with relevant regulations.
The divergence of views with the SEC also highlights the ongoing debate in the cryptocurrency space, but it also provides a new basis for discussion on legislation and regulation.
Market volatility and investor protection:
Behnam called for stronger regulation of non-security tokens, emphasizing the importance of protecting investors in market volatility.
This statement shows the CFTC's positive attitude to balance regulation and promote innovation.
Consider increasing holdings of BTC and ETH in the hope that the market will rise after regulatory clarity.
Continue to pay attention to CFTC-related legislative measures to ensure timely adjustment of investment strategies.
Legislative changes may further affect market trends, and preparing in advance will help seize opportunities.
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