Tucked in several places within its 40-page lawsuit against SBF, FTX and Alameda, the CFTC has referred to Bitcoin, Ether, and Tether as 'commodities' under US law, hopefully ending any further debate on the subject.
“Certain digital assets are “commodities,” including bitcoin , ether , tether and others, as defined under Section 1a of the Act, 7 U.S.C. § 1a.”
However, there appears to be some disagreement within the CFTC itself regarding whether Ether should be viewed as a commodity or not, at least in recent weeks. During a crypto event at Princeton University on Nov. 30, CFTC chief Rostin Benham reportedly suggested that Bitcoin is the only crypto asset that— walking back previous comments which asserted that Ether may also be a commodity.
The chairman of the Securities and Exchange Commission, Gary Gensler has also had an undetermined stance on Ether in recent months.with Jim Cramer during the hosts' Mad Money show on Jun. 27, Gensler confirmed that Bitcoin was a commodity adding: “That's the only one I'm going to say.” Gensler has previously suggested Ether was a security after its initial coin offering but had become more decentralized and turned into a commodity since then.
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