CFTC Chair: Illinois Court Affirms Bitcoin And Ether As Commodities, 80% Of Cryptos Are Not Securities

CFTC Chair: Illinois Court Affirms Bitcoin And Ether As Commodities, 80% Of Cryptos Are Not Securities


In a regulatory victory for the largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) were officially classified as commodities during Wednesday’s Digital Commodities Senate AG hearing. 

Court Backs Bitcoin And Ether’s Commodity Status

According to live coverage of the hearing by Fox journalist Eleanor Terret, Rostin Behnam, Chairman of the US Commodities Futures Trading Commission (CFTC), it was confirmed that an Illinois court had validated the status of BTC and ETH as digital commodities under the Commodity Exchange Act.

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The decision aligns with the CFTC’s position, which is notoriously at odds with previous statements by Securities and Exchange Commission (SEC) Chairman Gary Gensler. 

Gensler had previously stated that only Bitcoin falls under the securities classification, leaving the majority of other tokens subject to securities regulation based

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