Bitcoin & Ethereum Ruled as Commodities in Illinois, CFTC Chair Says
At a Senate Committee hearing today, CFTC Chairman Rostin Behnam said both Bitcoin and Ethereum were ruled as commodities in the state of Illinois. Indeed, Behnam noted that last week saw a district court rule in favor of the agency in a fraud case, offering a judgment with important ramifications. Behnam noted that the decision, “reaffirmed that both Bitcoin and Ether are commodities under the Commodities Exchange Act.” The question of the cryptocurrency’s status as a security or a commodity has been a consistent issue between the industry and the US Securities and Exchange Commission (SEC). JUST IN: CFTC Chairman says Illinois court ruled #Bitcoin & Ethereum are commodities. pic.twitter.com/zkmvQQ8ThN — Watcher.Guru (@WatcherGuru) July 10, 2024 Also Read: Donald Trump to Spark a Bitcoin Rally in the Second Half of the Year if Elected CFTC Chair Reaffirms BTC and ETH Commodity Classification Source: Blockchain Reporter In the United States, there is an import...