🤔 The United States#SECdesignates Bitcoin as a commodity 🤔

The US Securities and Exchange Commission, responsible for numerous applications on #criptomonedas under the Biden Administration, has called the asset a #commodity instead of a security.

The designation places the asset under the jurisdiction of the US Commodity Futures Trading Commission (#CFTC ) and is less likely to face an imminent crackdown.

While the #Biden Administration created laws to tax cryptocurrency brokers and proposed a legal framework for the industry, the president has not opposed the asset.

#Bitcoin has risen 120% during his tenure, trading at just under $29,000.