CFTC Claims Crypto Assets Are Commodities in Lawsuit Against Ex-Deutsche Bank Investment Banker
The individual was charged with one count of wire fraud.
CFTC News and Updates
The US Commodity Futures Trading Commission (CFTC) is an independent federal agency that was established back in 1974 by the Commodity Futures Trading Commission Act. It regulates the commodity futures, as well as the options market. The goal is to protect investors against market manipulation, fraud, and abusive trade practices, while also promoting competitive and efficient trading.
There has been a serious debate regarding the nature of cryptocurrencies and whether or not they can be classified as commodities or securities, or even currencies, in general. Bitcoin, for example, was deemed a commodity by the CFTC back in 2015. Hence, those who operate with it would have to abide by the regulations set forth toward commodities.
In December 2019, the Chairman of the CFTC also said that Ether (ETH) is a commodity and, as such, falls within the jurisdiction of the CFTC.
Regarding other cryptocurrencies, it depends on their structure, intended use, and designation. As such, some of them may be considered securities and to fall within the department of the Securities and Exchange Commission (SEC), which posts a whole different set of rules.
Recent CFTC News
CZ Says Interpol Red Notice Rumors Are FUD
The world’s largest crypto exchange Binance has seen its market dominance dwindle following the CFTC lawsuit last month.
DEX Volume Unaffected But BTC Outflows From Binance Increase Post CFTC Lawsuit
Binance experienced a 60% withdrawal surge this week following the CFTC’s market manipulation allegations.Â
For the First Time Since 2015: Nearly 90% of The ETH Supply Now in Self Custody
According to Santiment's data, just 10.31% of Ethereum's supply is held on exchanges.
Binance Withdrawals Surge During CFTC Indictment
There was an increase in net withdrawals from Binance on the news of the CFTC’s charges, shortly before and after
What are Binance and CZ Being Accused Of? A Closer Look at the CFTC Filing
Here are the CFTC’s accusations against Binance that CZ is choosing to ignore.Â
CFTC’s New Tech Advisory Group Includes Execs From Circle, Paradigm
The committee will hold its first meeting on March 22nd.
Mango Markets Sues Exploiter Avraham Eisenberg for $47M in Damages
Eisenberg is also in legal battles with several US federal and regulatory agencies.
Stellar Becomes Newest Member of CFTC’s Committee
SDF is the only organization representing a blockchain on the committee.
CFTC Charges Mango Markets Exploiter With Market Manipulation
The CFTC isn’t buying Eisenberg’s argument that his attack on Mango Markets was a legal act.Â
