US Government Trading Commission Recognizes Bitcoin as a Commodity
Much like gold, oil, or soybeans, Bitcoin is now officially considered a commodity. The agency that regulates the US commodity trading market, the Commodity Futures Trading Commission (CFTC) has finally recognized the digital currency as a commodity. The debate on bitcoin can be defined as a commodity or not as been here for quite some time and the FCTC. By officially recognizing the digital currency as a commodity the CFTC assures its authority to supervise the trading of digital currency futures and options, which will now be subject to the agency's regulations. If there is any....
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Bitcoin is now officially a commodity according to U. S. regulators, Bloomberg Business reports . The Commodity Futures Trading Commission (CFTC) announced on Thursday that it had filed and settled charges against a Bitcoin exchange for facilitating the trading of option contracts on its platform. "In this order, the CFTC for the first time finds that Bitcoin and other virtual currencies are properly defined as commodities," notes the CFTC press release . The U. S. Commodity Futures Trading Commission is an independent agency of the U. S. government created in 1974, which regulates futures....
The current chairman of the US Commodity Futures Trading Commission (CFTC), Timothy Massad, will likely step down early next year. While he recognizes the potential benefits of blockchain technology, his replacement may be even more pro-blockchains. Massad Sees Blockchain’s Benefits. “The innovations that may be created through financial technology such....
The Commodity Futures Trading Commission (CFTC) has granted formal registration to a trading platform that was an early entrant in the market for bitcoin financial derivatives. TeraExchange, a swaps execution facility based in New Jersey, had been previously operating under a temporary registration order, and today's announcement formally recognizes this designation. The CFTC said it would regulate bitcoin as a commodity in September of last year. The approval, one of three granted today according to a release from the agency, comes months after the CFTC simultaneously charged and settled....
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says bitcoin is a commodity. He emphasized that the SEC, the Commodity Futures Trading Commission (CFTC), and banking regulators will collaborate to oversee the crypto sector.
Gary Gensler: Bitcoin Is a Commodity
SEC Chairman Gary Gensler clarified his position on cryptocurrency, particularly bitcoin, in an interview with Mad Money host Jim Cramer on CNBC Monday.
“This is a highly speculative asset class. We’ve known this for a long time,” Gensler said when....
Former commissioner on the Commodity Futures Trading Commission advised Obama in an op-ed on CNBC today to take a reasonable approach to digital currency and blockchain technology, one that fosters innovation. Bitcoin and blockchain regulation has been a hot topic at conferences and on the nascent technology’s online forums. Bitcoin, known for its anarchist and libertarian leanings, fear government legislators and regulators. Many episodes have tarnished bitcoins name, as well; namely, the Silk Road and Mt. Gox affairs. These have led to everyday people, and regulators, to associate the....