Satoshi

2024

Bitcoin

<h4><strong>This development is significant as it underscores the CFTC’s stance on digital assets. </strong></h4> 
<p>Under the Commodity Exchange Act, major cryptos ($BTC, <a href="https://www.altcoinbuzz.io/?s=eth" target="_blank" rel="noopener">$ETH</a>, $LTC) and stablecoins ($USDC, $USDT) are classified as commodities in U.S. commerce. Let’s discover more about this news for Kucoin.</p> 
<h5><strong>Major Cryptos Recognized as Commodities</strong></h5> 
<p>The CFTC’s stance is very important for several reasons. First, it provides crucial clarity on the U.S. regulatory framework for digital assets, guiding both established and new crypto players. By classifying these digital assets as commodities, the CFTC asserts its jurisdiction over these assets. Emphasizing the need for compliance with the Commodity Exchange Act. This classification affects trading, participant eligibility, and regulatory oversight of these digital currencies.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">The CFTC's action against <a href="https://twitter.com/hashtag/KuCoin?src=hash&amp;ref_src=twsrc%5Etfw">#KuCoin</a> highlights its stance that various digital assets, including <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LTC</a>, and stablecoins such as <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> and <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a>, are considered commodities in U.S. interstate commerce, per the Commodity Exchange Act. <a href="https://t.co/3G7TW2SwW9">pic.twitter.com/3G7TW2SwW9</a></p> 
 <p>— Satoshi Club (@esatoshiclub) <a href="https://twitter.com/esatoshiclub/status/1772911688783692072?ref_src=twsrc%5Etfw">March 27, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The action against KuCoin is a clear indication that the CFTC is actively monitoring the cryptocurrency market to ensure compliance with federal regulations. It warns other crypto entities of the importance of complying with U.S. laws. This is crucial as the fast-expanding crypto market sees rapid creation of new tokens and assets.</p> 
<p>Moreover, it underscores the necessity for transparency and accountability in dealings with digital assets, ensuring that the interests of investors and users are protected.</p> 
<p>Furthermore, the CFTC’s action and its implications for digital asset classification may influence future regulatory approaches towards cryptocurrencies. It may lead to clearer <a href="https://www.altcoinbuzz.io/?s=regulations" target="_blank" rel="noopener">regulations</a>, supporting innovation, and ensuring market integrity and consumer safety.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone size-full wp-image-123701" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-1068x132.jpg 1068w" alt="" width="1197" height="148"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/eth-classified-as-commodity-in-cftcs-kucoin-lawsuit/">ETH Classified as Commodity in CFTC’s Kucoin Lawsuit</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

ETH Classified as Commodity in CFTC’s Kucoin Lawsuit

Altcoin Buzz

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