The U.S.Senate intends to treat Bitcoin and Ethereum as commodities and be regulated by CFTC

[The U.S. Senate intends to treat Bitcoin and Ethereum as commodities and be regulated by the CFTC] On August 3, the proposed legislation by the U.S. Senate will treat Bitcoin and Ethereum as commodities and be regulated by the Commodity Futures Trading Commission (CFTC). It is reported that Debbie Stabenow (D., Mich.), chairman of the U.S. Senate Agriculture Committee, and John Boozman, the top Republican in Arkansas, plan to introduce a bill on Wednesday to authorize the Commodity Futures Trading Commission to supervise the spot market for digital commodities, a new asset types. Currently, the CFTC has the authority to regulate derivatives, such as futures and swaps, rather than underlying commodities. (Wall Street Journal)

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