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NY supreme court ruled that tether was covered under commodities law last year, so CFTC can have it stick. Crypto is either a commodity, or a security. It's no
by VHRanger 6y ago
NY supreme court ruled that tether was covered under commodities law last year, so CFTC can have it stick.
Crypto is either a commodity, or a security. It's not outside the law
- vmception 6y agoCFTC is a federal agency, they regulate commodity derivatives, not commodities, a New York court doesn't evolve the case law for a federal agency. And none of this has anything to do with "crypto being recognized as a particular asset class". Nobody is arguing about the CFTC saying crypto is a commodity, the CFTC has limited powers in what they can do with something being a commodity because they regulate commodity derivatives. here is something that shows the current state of the CFTC's authority being unresolved by federal courts, specifically regarding spot commodities https://www.skadden.com/insights/publications/2018/10/recent-court-decisions-shine-spotlight https://www.skadden.com/insights/publications/2018/10/recent...