U.S. Senator John Boozman says bitcoin, although a cryptocurrency, is a commodity. 'There is no dispute about this.' $BTC crypto
U.S. Senator John Boozman says bitcoin, although a cryptocurrency, is a commodity in the eyes of the federal courts and the Securities and Exchange Commission chairman. He stressed that exchanges where commodities are traded, including bitcoin, must be regulated and the Commodity Futures Trading Commission is the right regulator for the crypto spot market.U.S. Senator John Boozman , ranking member of the U.S.
Calling the FTX collapse “shocking,” the senator said: “Public reports suggest a complete lack of risk management, conflicts of interest, and misuse of customer funds. There is simply no place for such behavior, especially in our financial markets.”Senator Boozman proceeded to talk about crypto regulation and empowering the Commodity Futures Trading Commission as the primary regulator of the crypto spot market.
If there are exchanges where commodities are traded — be it wheat, oil, or bitcoin — then they must be regulated. It is that simple. The choice not to regulate leaves consumers at the mercy of those who would prey upon them. “The CFTC has consistently demonstrated its willingness to protect consumers via enforcement actions against bad actors,” Senator Boozman continued, adding:
I am confident the CFTC is the right agency for an expanded regulatory role in the digital commodity spot market.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: ETH, BTC Higher Following US Nonfarm Payrolls Report – Market Updates Bitcoin NewsEthereum moved closer to the $1,300 level on Dec. 2, as prices remained near a multi-week high. Bitcoin is trading above $17,000.
Read more »
Compass Mining Launches Bitcoin Miner Protection PlanRetail-focused compass_mining is offering bitcoin-mining-machine protection plans for its customers hosted in four U.S. states. egreechee reports.
Read more »
Bitdao Reveals Modular Ethereum L2 Called Mantle, Public Testnet to Launch in 2023 – Technology Bitcoin NewsAccording to members of the Bitdao team, the Mantle layer two public testnet is scheduled to release in 2023.
Read more »
Crypto Market Analysis: Ether’s Recent Strength vs. Bitcoin Reaches Key Crossover SignalMarket Analysis: The potential crossing of the $ETH/$BTC 10-day moving average above the 100-day moving average was poised to occur Thursday. A positive crossover is often a bullish sign. GWilliamsJr_CMT reports
Read more »
Bitcoin dips under $17,000, Block and Coinbase see mixed fortunes and Silvergate sinksSome crypto stocks performed better than others on Thursday, with Block gaining and Silvergate falling.
Read more »
Bitcoin Slips as US Economy Added a Strong 263K Jobs in NovemberJUST IN: U.S. employers added 263K jobs in November topping expectations for just 200K as the job market continues to show strength. bitcoin prices are slipping below $17K on the news. HeleneBraunn reports
Read more »