Ethereum

Bitcoin

<h4><strong>Behnam highlighted that an Illinois court has affirmed Bitcoin and Ethereum as digital commodities under the Commodity Exchange Act. </strong></h4> 
<p>This legal classification solidifies their status within the regulatory framework governed by the CFTC. Let’s discover more about this important news for Bitcoin.</p> 
<h5><strong>Regulatory Frameworks for Bitcoin and Financial System Protection</strong></h5> 
<p>Addressing the broader <a href="https://www.altcoinbuzz.io/?s=crypto+market" target="_blank" rel="noopener">crypto market</a>, Behnam emphasized that 70-80% of cryptocurrencies are considered non-securities. This underscores their distinct regulatory requirements compared to traditional financial assets. When questioned by <a href="https://x.com/SenSherrodBrown" target="_blank" rel="noopener">US Senator Sherrod Brown</a> about lessons learned from past crypto frauds, Behnam stressed the unique technological aspects of digital assets, which necessitate a reevaluation of cybersecurity and operational resilience measures.</p> 
<p><img decoding="async" class="wp-image-145349 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxbvcnvhgnhj-300x206.png" alt="" width="553" height="380" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxbvcnvhgnhj-300x206.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxbvcnvhgnhj-218x150.png 218w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxbvcnvhgnhj-100x70.png 100w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxbvcnvhgnhj.png 391w" sizes="(max-width: 553px) 100vw, 553px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/EleanorTerrett/status/1811042341521703213" target="_blank" rel="noopener">X</a></strong></h6> 
<p><a href="https://x.com/CoryBooker" target="_blank" rel="noopener">US Senator Cory Booker</a> expressed concern over the prevalence of abuse in the crypto market and the regulatory challenges faced by the CFTC. Notably, Behnam acknowledged that nearly half of the agency’s enforcement docket pertains to crypto-related cases. This describes this as an “extraordinary” burden for an agency tasked with overseeing trillion-dollar markets without commensurate funding or jurisdiction.</p> 
<p><img decoding="async" class="wp-image-145350 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvbcbnnmbhgfdgsdfe-300x273.png" alt="" width="541" height="492" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvbcbnnmbhgfdgsdfe-300x273.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvbcbnnmbhgfdgsdfe.png 394w" sizes="(max-width: 541px) 100vw, 541px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/EleanorTerrett/status/1811060378664673326" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The debate over regulatory jurisdiction between the CFTC and SEC also emerged, with Senator Roger Marshall questioning whether consolidating oversight under the CFTC would streamline regulatory clarity. Behnam responded positively, suggesting that the CFTC is well-equipped to handle digital assets but would require definitional changes to effectively distinguish between securities and commodities.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone size-full wp-image-123700" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-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/cftc-affirms-bitcoin-and-ethereum-as-commodities/">CFTC Affirms Bitcoin and Ethereum as Commodities</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

CFTC Affirms Bitcoin and Ethereum as Commodities

Altcoin Buzz

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