The United States government has increasingly stepped up its overwatch on crypto in recent years, although an outright ban on Bitcoin is now unlikely — at least according to Gemini CEO and co-founder Tyler Winklevoss.
“I think, if we were back in 2013, this would be kind of an open question,” Winklevoss told podcaster Peter McCormack when asked about regulation and a Bitcoin (BTC) ban during a Friday episode of the What Bitcoin Did podcast:
“I think that the U.S. will never outlaw Bitcoin. There’s too much precedent that’s been set in the courts. The Coinflip order, which was a CFTC [Commodity Futures Trading Commission] enforcement action which was upheld in the courts, considered Bitcoin a commodity like gold.”
Back in 2015, the CFTC referred to BTC as a commodity in the midst of dealing with Derivabit, a BTC options trading platform. According to the CFTC, Derivabit, a product of a company called Coinflip, was not compliant with the governing body at the