Ethereum

2024

Bitcoin

Coin

<ul class="news-points"> 
 <li><strong>CFTC Chairman Behnam confirms Bitcoin and Ethereum as digital commodities under the Commodity Exchange Act. </strong></li> 
 <li><strong>An Illinois court decision provides regulatory clarity and sets a precedent for other cryptocurrencies. </strong></li> 
 <li><strong>Behnam states 70-80% of the cryptocurrency market are non-securities, impacting regulatory oversight. </strong></li> 
</ul> 
<p>An Illinois court ruling has officially recognized Bitcoin and Ethereum as digital commodities, a decision that could reshape the regulatory landscape for the cryptocurrency industry.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">CFTC Chairman Behnam says an Illinois court confirmed that <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a> are digital commodities under the Commodity Exchange Act.</p>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1811042341521703213?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">July 10, 2024</a>
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<p>CFTC Chairman Rostin Behnam <a href="https://www.cftc.gov/PressRoom/SpeechesTestimony/opabehnam48" target="_blank" rel="nofollow">confirmed the ruling</a>, highlighting its potential to bring clarity to a market where 70-80% of assets could fall under the CFTC’s jurisdiction rather than the SEC’s. This distinction has significant implications for compliance and oversight within the crypto space.</p> 
<p>In his recent speech, Chairman Behnam had emphasized the CFTC’s role in regulating digital commodities, reiterating that Bitcoin and Ethereum are classified as such. This classification means the…</p>
<p>The post <a href="https://coinedition.com/bitcoin-and-ethereum-declared-commodities-landmark-court-ruling-reshapes-crypto-regulation/">Bitcoin and Ethereum Declared Commodities: Landmark Court Ruling Reshapes Crypto Regulation</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Bitcoin and Ethereum Declared Commodities: Landmark Court Ruling Reshapes Crypto Regulation

Coin Edition

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