CFTC 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 t

CFTC 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...