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Senate Bill Defines Bitcoin, Ether as Digital Commodities to be Regulated By CFTC
Following the announcement DOJ/SEC enforcement actions alleged insider trading against a former Coinbase employee, many cried foul at the perceived "regulation by enforcement." The SEC Complaint, alleged – for the first time – that certain Ethereum-based cryptocurrency tokens were securities. But as anyone familiar with the crypto world knows, things move quickly…. On August 3, 2022, a bi-partisan group of Senators introduced the Digital Commodities Consumer Protection Act of 2022 (“DCCPA”). The DCCPA gives the Commodity Futures Trading Commission (“CFTC”) exclusive jurisdiction to regulate the ... (full story)