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

Quick Summary:

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.

Worryingly, Behnam highlighted that while the SEC and CFTC coordinate enforcement actions, the two agencies lack regulatory coordination.

Behnam responded by acknowledging the uniqueness of the technology behind Bitcoin and digital assets, which necessitates a different approach to cybersecurity and operational resilience than traditional asset classes.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: Hungary

Topics: BTCUSDT Btc Bitcoin News Bitcoin Cryptocurrencies Crypto regulation Digital currency DeFi Bitcoin price Bitcoin news Btcusd Crypto news Cryptocurrency Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-11 @ 02:30:08 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 566 words

Reading Time: 4 minutes read

Sentences: 30 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21570440

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 9 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #105

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