Bitcoin

Ethereum

<ul><li>CFTC Chair indicated the agency’s intent to maintain oversight of the crypto sector.</li><li>The new categorization of cryptocurrencies has divided the crypto community.</li></ul>U.S. officials have accused <a href="https://thenewscrypto.com/tag/binance/" rel="noopener noreferrer nofollow">Binance</a>, the biggest cryptocurrency exchange in the world, of breaking the law in an attempt to step up their crackdown on the <a href="https://thenewscrypto.com/tag/cryptocurrency/" rel="noopener noreferrer nofollow">cryptocurrency</a> industry. The cryptocurrency sector has been quick to focus on the CFTC’s designation of cryptocurrencies like Bitcoin, Ethereum, and Litecoin as commodities, one of the numerous arguments made in the agency’s 74-page court brief.In a statement, CFTC Chair Rostin Behnam indicated the agency’s intent to maintain oversight of the unsteady and possibly unsafe digital asset market. The Commodities Futures Trading Commission (CFTC) is in charge of overseeing derivative goods such as commodity-linked financial contracts.Legal documents filed by the regulatory agency cite it as saying:<blockquote>“[Binance] operated a facility for the trading of futures, options, swaps, and leveraged retail commodity transactions involving digital assets that are commodities including bitcoin (BTC), ether (ETH), and litecoin (LTC) for persons in the United States.”</blockquote><h3 id="cftc-vs-sec">CFTC Vs SEC</h3>The <a href="https://thenewscrypto.com/tag/cftc/" rel="noopener noreferrer nofollow">Commodity Futures Trading Commission (CFTC)</a> further alleges in court documents that Binance’s trading volume and profitability were significantly aided by the company’s extensive solicitation and access to customers based in the United States engaging in various digital asset spot and derivative transactions involving commodities.The new categorization of cryptocurrencies has divided the cryptocurrency community. Despite widespread knowledge of and agreement with the CFTC’s pro-commodity stance, questions remain in the wake of SEC director Gary Gensler’s claim that “any cryptocurrency is a security,” with Bitcoin being the only exception.With this development, Litecoin, the thirteenth biggest cryptocurrency by market share, has confirmed through Twitter that it recognizes itself as a commodity under Section 1a (9) of the Act, 7 U.S.C.

CFTC Labels Bitcoin and Ethereum as Commodities in Binance Lawsuit

Innholdsfortegnelse

TheNewsCrypto

Andre artikler publisert på 28. mars 2023

First Citizens Bank Officially Acquired Silicon Valley Bank

Top 5 Trending Cryptocurrencies to Keep Eye on This Week

NILE Kari project Special EVENT

Kaspersky prevents about 300,000 attacks on IoT devices in sub-Saharan Africa, provides safety ti...

“John Wick 4” soars and the ending hints at a new rivalry

Over 11% of Boss Token's Circulating Supply Has Been Burned Since Launch

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!