Disclosure from CFTC: These Three Crypto Assets are Commodities!

Disclosure from CFTC: These Three Crypto Assets are Commodities!

U.S. Commodity Futures Trading Commission (CFTC), listed three cryptoassets that it considers to be commodities.

The CFTC, which shared its views in a fraud complaint filed against Sam Bankman-Fried, FTX and Alameda Research in the United States District Court for the Southern District of New York. bitcoin He commented that digital assets such as (BTC), Ethereum (ETH) and Tether (USDT) are commodities.

Disclosure from CFTC: These Three Crypto Assets are Commodities!

“A digital asset is anything that can be stored and transmitted electronically and has associated ownership or usage rights. Digital assets include virtual currencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), which are digital representations of value that function as mediums of exchange, units of account, and/or store of value.

Sharing its views on the fraud case, the CFTC is led by Sam Bankman-Fried and his team. cryptocurrencyclaims that they are “abusing client funds for their own use and benefit”.

“Bankman-Fried and other FTX executives also received hundreds of millions of dollars from poorly documented ‘loans’ from Alameda that they used to purchase luxury real estate and property, make political donations, and other unauthorized uses.”

Sam Bankman-Fried was arrested earlier this week in the Bahamas, while the US Attorney’s Office for the Southern District of New York filed an indictment accusing the SBF of money laundering, conspiracy to defraud the United States and campaign finance laws, and six counts of fraud.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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