Latest news with #exchanges
Reuters
6 hours ago
- Business
- Reuters
Sterling climbs versus dollar, on track for weekly rise
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News.com.au
5 days ago
- Business
- News.com.au
US dual-listing hopefuls counting on greater exposure, access to capital
Companies list shares on second exchange for more investor and customer exposure Listing on the US provides access to the world's largest source of capital ASX plays, such as Green Critical Minerals and Trigg Minerals, are seeking dual listings Dual listing occurs when a company lists its shares on a second exchange – typically in another country – usually to increase the company's exposure to investors in different jurisdictions. It can also add liquidity to shares, provide more avenues to raise capital, and increase the amount of trading time. A listing in the US specifically opens the door to the world's largest source of capital, enabling a company to tap into financing sources it wouldn't otherwise be able to access. Green Critical Minerals (ASX:GCM) managing director Clinton Booth told Stockhead the company had spent six months looking first at different jurisdictions then drilling down to the different exchanges before making a decision. 'Ultimately for us, it came down to two key points and that was how it would support both our commercial and capital market ambitions,' he said. 'For us, a US listing provides such exposure and customer awareness as well as being a significant and a massive market. 'It is such as big market, if we don't do a US listing, it won't help us to stand out. 'That's why we decided to move to a US listing. And also why we've decided to look at a NASDAQ and an NYSE as opposed to an OTC.' Raising awareness There's at least one other reason for embarking on a dual listing. Booth noted that GCM's primary interest in a US listing is to increase its exposure to target customers in data centres, semiconductors and advanced electronics that would benefit from the thermal management properties of its Very High Density graphite heat sinks. 'A big part of a US listing is to provide access to that and awareness to that ecosystem,' he said. 'The big thing is the size of the market and ecosystem. We're talking data centres, semiconductors and high performance computing. We're talking about a market which doesn't need to be created. This is a massive market today and a market, which is growing exponentially.' However, he acknowledged that access to capital markets was also important, noting that a listing would attract investors that understood the tech sector and value the industrial innovation represented by the company's offering. 'You're talking about the biggest capital markets in the world, which is very liquid, very deep (pockets) and very aware of what we bring and what we are. So there's good alignment there,' Booth added. He also acknowledged the potential to access government funding opportunities, some of which see a US listing as proof the company is a sort of local provider. Benefits outweigh cost Dual listing does come with costs, though. Listing on another exchange means extra costs related to listing fees, ongoing fees and having to meet regulatory and compliance requirements. This could be potentially onerous for companies that go into the listing without a clear understanding of what they are seeking. However, this isn't true for GCM. 'For us, we looked at all of the costs and they are not trivial, but we accept that and think they are very manageable,' Booth said. 'We see this as an investment. This is about increasing exposure to both the customer market and the capital market. 'For us, it's a huge net positive. It's an investment in us actually growing the business.' Companies seeking US listings Green Critical Minerals is looking to carry out a US listing in H1 2026 after assessing market opportunities across the United Kingdom, Europe and North America. It noted in its announcement in late July that North America presented a 'significant growth runway' due to accelerating demand for advanced thermal management solutions across data centres, semiconductor manufacturing and high-performance computing. Booth said the company's VHD blocks could solve the market's energy and water challenges – its sustainability issues. 'They are going to be a big anchor on this industry continuing to grow,' he added. 'What we and the product we have is one of the steps and one of the parts of helping to make these sectors more sustainable and more efficient in the things they use. 'We're part of that ecosystem which is really see us moving into a sustainable data centre style high performance computing environment to really enable the sector to go to the next levels that it can go to.' He notes that in the next 12 months, the company will move from being pre-revenue to revenue generation with announcements about production facilities, customer engagement, further partnerships with other bodies and demonstrating real-world prototypes and how they behave in real- world situations to take validation to the next level. Booth added that while the company currently had a commercial pilot facility operating in Australia, it expected to be talking to market about a manufacturing facility in the US within the next 12 months. It is far from the only company in the process of chasing a US listing, though. For example, Trigg Minerals (ASX:TMG) is also working on a mainboard listing in the US to fast-track its antimony production plans via its Antimony Canyon project in Utah. It appointed international markets veteran James Graff as a non-executive director at the end of July to leverage his deep cross-border experience in banking and special purpose acquisition company to support the listing. This follows the company defining an exploration target of 12.8 to 15.6 million tonnes at 0.75% to 1.5% antimony, or between 96,000t and 234,000t of contained metal that ranks Antimony Canyon amongst the country's largest and highest-grade undeveloped antimony systems. It is based on detailed trench sampling, geological mapping and historical reconnaissance exploration conducted by the US Bureau of Mines (USBM) and US Geological Survey (USGS) between 1941 and 1942 that was subsequently verified and expanded upon through field validation, geological mapping and digital modelling undertaken by the company. A detailed geological program led by Dahrouge Geological Consulting is carrying out activities to validate the exploration target and progress Antimony Canyon towards the completion of trenching and drilling across high-priority areas. This will ultimately lead to the delivery of a maiden resource estimate in accordance with SEC S-K 1300 and JORC 2012 reporting standards. Meanwhile, Resolution Minerals (ASX:RML) is closing in on a listing on the OTCQB Markets, a move that's expected to boosting its visibility, liquidity and accessibility for North American investors, and is progressing a listing on NASDAQ, which is a major national stock exchange for more established companies and offers greater visibility and liquidity. This could attract investors in the same way that NASDAQ-listed Perpetua Resources, whose Stibnite antimony-gold project with a resource of 4.8Moz gold and 148Mlb antimony shares its western boundary with RML's Horse Heaven antimony-gold-tungsten project in Valley County, Idaho. Horse Heaven boasts strong gold, antimony and silver mineralisation in two prospects – Antimony Ridge Fault Zone and Golden Gate Fault Zone – and includes past-producing antimony and tungsten mines. Its geological model of Horse Heaven is a direct analogue to Stibnite with the project known to host strong gold, antimony and silver mineralisation in the Antimony Ridge Fault Zone (ARFZ) and the Golden Gate Fault Zone (GGFZ). Highlighting its potential value, RML has received an unsolicited, non-binding and indicative offer from NASDAQ-listed Snow Lake Resources for the project that values it at $225m.
Yahoo
6 days ago
- Business
- Yahoo
Coinbase review 2025
Coinbase is one of the largest and most well-known crypto exchanges, offering a lot of features that traders may find valuable. Crypto-only traders may find Coinbase to be a solid option if they're using the advanced tier that comes with competitive pricing, though low-level fees have risen lately. Coinbase has worked hard to obscure the fees you'll pay, both for its entry-level service — where fees can be atrocious — and its Coinbase Advanced service. So you may well end up paying much more than you expect due to different levels and types of fees and the poor disclosure of fees. Coinbase does offer well over 300 cryptocurrencies, which should meet the needs of traders looking for even the most obscure coins. There's also an improved offering of educational content and market commentary to help those who are new to crypto. As for customer service, clients can get phone support 24/7. If you're only looking to trade popular coins and would like access to other investment options, consider using Interactive Brokers. Other crypto-focused options include Kraken, eToro and Coinbase at a glance$0; $1 trading minimum300+ cryptocurrenciesFees vary based on tier and may include a spread markup. Taker fees start at 1.2 percent and maker fees start at 0.60 24/7 phone and chatNo ACH deposit or withdrawal feesThe Coinbase mobile app is available on the Apple App Store and Google Play Store Pros: Where Coinbase stands out Coinbase Advanced commissions Trader beware: Coinbase has made efforts to obscure its pricing for both its basic and Advanced tiers. Where fees used to be easily scannable, they're now locked behind log-ins or shown just before you make a trade. In sharp contrast, fees at other major crypto exchanges and other traditional brokers are available to even casual viewers. Coinbase offers a volume-based, sliding-scale pricing structure, but only if you're using the exchange's Advanced service tier, formerly known as Coinbase Pro. (For more on the basic service tier, see below.) With Advanced, you'll pay a fee of at most 1.2 percent for monthly trading volume less than $1,000. But you may be able to whittle that fee down using the exchange's volume-based pricing. However, the lowest-tier fees at Coinbase Advanced have actually risen compared to a few years ago. The pricing structure for Advanced is scaled, so that fees decline the more you trade. What you pay depends on your total dollar trading volume over the prior 30 days. Coinbase also uses a maker-taker pricing model, so if you're adding liquidity to the market (a maker) or taking liquidity (a taker), you'll be charged a different fee. For example, if you've traded less than $1,000 in the prior 30 days, you'll pay 1.2 percent as a taker or 0.6 percent as a maker. Trade between $1,000 and $10,000 over the same time period and takers pay 0.75 percent, while makers pay 0.35 percent. A monthly trading volume between $10,000 and $50,000 would give takers a fee of 0.40 percent and makers 0.25 percent. The fees ultimately decline even further, but you'll have to trade staggering amounts of cryptocurrency for it to make any difference. You can also lower your fees by having a balance at Coinbase, with fees beginning to drop when you have $500,000. With that balance, your maker-taker fees are 0.35/0.75 percent, while a $1 million balance gets you to 0.25/0.4 percent. The all-in fees compare well to eToro, where the spread markup fee starts at 1 percent, though it's more than Interactive Brokers, which charges 0.12 – 0.18 percent, depending on your monthly volume (with a $1.75 per trade minimum). It's worth noting that the fees at start at 0.6 percent and then move down from there, though some of the most popular cryptocurrencies can be traded without a commission. Coinbase One Don't like Coinbase's fee structure? The exchange offers a subscription product at three service tiers (basic, preferred, premium) that provides a variety of benefits, including: No trading fees up to a specified monthly volume, though a spread mark-up applies Higher rewards on the USDC stablecoin Higher staking rewards More extensive customer support Protection against losses due to account takeover Various other services and bonuses The bonuses increase at each service tier, so that you'll receive higher rewards at the preferred and premium levels than the basic level. The basic tier costs $49.99 a year, and the preferred tier is $299.88 per year, though monthly subscriptions are $4.99 and $29.99, respectively. The premium tier comes only in a monthly subscription: a whopping $299.99. Cryptocurrency selection Coinbase has an enviable selection of cryptocurrencies that you can trade — well over 300 at last count — and that should prove wide enough for all but the most hardcore crypto trader. You'll get the most popular cryptocurrencies, including Bitcoin, Ethereum, Cardano, Solana, XRP and dozens more that are up and coming. So you're probably going to find what you're looking for here. Plus, you can trade directly between crypto coins with some crypto pairs, allowing you to avoid an extra trade. That's in sharp contrast to other brokers or financial apps that advertise crypto trading but offer only a handful of the most widely followed coins. For example, Robinhood offers trading in just 29 cryptocurrencies — which is still better than many brokers — while Interactive Brokers supports trading in only 11 of the most popular coins. If you want to trade stocks, options and ETFs while accessing only the most popular crypto coins, Robinhood, Webull or Interactive Brokers could be good alternatives, however. Crypto custody Unlike brokers that are focused more on trading, Coinbase allows you to take custody of your crypto assets yourself. The exchange offers its own crypto wallet, or you can bring your own wallet. Either way, you can pick the solution that best fits your needs. And that's unusual in the trading world, with most traditional brokers not allowing you to hold your own assets. Staking rewards Coinbase also allows customers who hold some cryptocurrencies with them to participate in staking rewards. Staking is like earning interest in a bank account but with a much different set of risks. Staking generates income from your holdings as they're used to validate transactions in a given cryptocurrency, and Coinbase shares that reward with you. Coinbase takes a 35 percent commission on any income you receive, though members of Coinbase One can lower their commission to 31.75, 28.5 or 25.25 percent, depending on their tier. Clients can earn staking rewards on just a few cryptocurrencies right now, including Ethereum, Solana and Polygon. The exchange handles the technical side of things and the extra coins — or fractions of them — are added to your account on a set schedule. Customer support Coinbase has really made strides in bolstering its customer support. While it wasn't that long ago that the only phone support you could receive was to lock down your account, now the crypto exchange offers 24/7 access to a live human, even if you have to run through a short gauntlet of automated voice prompts on the phone first. Still, it's an improvement and notable in an industry where customer support has been an afterthought, if it's been a thought at all. If you have other run-of-the-mill issues (funding problems, for instance,) you can submit a support ticket and wait until Coinbase gets back to you. Or you can run through the site's chatbot or 24/7 live chat, and see if those resolve your concern. Educational content Coinbase has made some strong efforts to develop its educational content over the last year, and now offers quite a selection of material to help clients who are new to the crypto world get up to speed. It offers a range of '101' explainers of the basics such as 'What is Bitcoin?' as well as a glossary that explains what some of the most popular cryptocurrencies do. A tips and tutorials section instructs readers on how to set up a crypto wallet or how to donate crypto. All in all, it's a much-improved addition to the site and provides useful information on crypto. Cons: Where Coinbase could improve Fee transparency Any other major crypto exchange — heck, any average traditional stockbroker — makes its fees clearly accessible to even the casual viewer. Coinbase has been doing just the opposite: It's gone out of its way to hide its fee schedule, purposely obscuring the once public — and confusing — list of fees on both its basic tier and now its Advanced Tier, since low-volume prices have gone up on the latter. If you're using Coinbase's basic platform, you'll be hard-pressed to find a fee schedule before you actually place a trade. Now, to be clear, you will be able to see your trading commission, but only right before you're ready to place your trade. And on the Advanced tier, you can find the pricing schedule… eventually. In an era of highly transparent pricing, it's a serious knock on the company if it can't provide a list of trading fees so that you can make a sound judgment. Why does Coinbase do this? It's not clear, but the broker's hefty and increased fees for low-volume trading probably have a lot to do with it. Trading commissions on the basic tier It's advisable to avoid Coinbase's basic service tier if you can jump right to its Advanced tier given its lower pricing. Just how high are commissions on the basic tier? Well, frankly it's hard to say (see above). But the most recent data suggest that you'll pay a lot on a percentage basis. Let's break down two of the most common charges on the last published schedule of fees and see what traders would pay if they were buying $1,000 in Bitcoin: A 1.49 percent fee if paying from a bank account or Coinbase dollar wallet A 0.5 percent spread markup If you're using Coinbase's entry tier, you'll be hit with at least 1.99 percent in costs. And they go up from there because the company uses a sliding scale. Want $10 of Bitcoin? You're on the hook for a fee of $0.99 – or 9.9 percent – plus that 0.5 percent spread markup – for 10.4 percent all in. Plus, you'll get hit coming and going. The effective percentage declines until your purchase is $200, and then the broker switches to a fee based on your payment method, starting at 1.49 percent (as above) and rising to 3.99 percent if you use a debit card. And you'll still be paying that spread markup on top of it. That's a confusing welter of fees and markups across payment methods, and it can be hard to navigate. So it's better to skip the entry tier and move straight to Advanced's competitive prices. How we make money Bankrate is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate does not include all companies or all available products.
Yahoo
6 days ago
- Business
- Yahoo
XRP Whale Flows Point to Potential Correction: CryptoQuant
XRP's price could face short-term pressure as the asset's largest holders move funds to exchanges at an increased rate, according to CryptoQuant Head of Research Julio Moreno. 'Sudden and increasing whale flows into exchanges may indicate an inflection for prices as large holders may start selling on exchange,' he told Decrypt. On Thursday, the 30-day moving average for XRP inflows to exchanges from whales increased to 260 million from 141 million at the beginning of July, according to CryptoQuant data. The trend was first flagged by The Enigma Trader, a pseudonymous analyst. Activity among whales can play a significant role in shaping market sentiment, and in July, XRP's price dropped after exchange inflows from whales spiked, Moreno added. XRP recently rose 9.7% on Thursday to $3.29, according to crypto data provider CoinGecko. Last month, the asset's price jumped to $3.65, a new all-time high that was seven years in the making. That same day, on July 18, XRP whales moved 660 million tokens to exchanges. The token's price fell to $3 in the following week. Although heightened inflows to exchanges from large XRP holders can be bearish, the trend works in both directions, with recent examples, Moreno said. An increase in XRP's price last year following the reelection of U.S. President Donald Trump also coincided with lower exchange reserves, particularly on the crypto exchange Upbit, one of the largest exchanges for XRP, he explained. Bitcoin Whale Moves $349 Million in BTC After 10-Year Slumber Before XRP's price set a new all-time high last month, Ripple co-founder Chris Larsen moved 50 million XRP, which mostly went to exchanges. The pseudonymous blockchain sleuth ZachXBT estimated that $140 million worth of Larson's XRP made it to exchanges. The latest crypto rally has awakened whales for other digital assets, including Bitcoin. Last month, the institutional crypto firm Galaxy Digital said that it had executed an $9 billion Bitcoin sale on behalf of a single, Satoshi-era investor. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Forbes
08-08-2025
- Business
- Forbes
Is Bitcoin A Security Or Commodity?
Bitcoin is one of the most widely recognized digital assets in the world, but its legal classification remains a topic of continued debate. In the United States, the Commodity Futures Trading Commission (CFTC) has classified bitcoin as a commodity since 2015. As digital assets become more integrated into traditional finance, questions persist about whether bitcoin fits best within commodity or securities laws. This article explains the legal definitions of securities and commodities, outlines how U.S. and global regulators approach bitcoin, and explores the implications for investors, exchanges and policymakers. It also presents key arguments on both sides of the classification debate and discusses why bitcoin's regulatory status matters for its long-term role in financial markets. Why Bitcoin's Classification Matters Widely traded and globally recognized, bitcoin occupies a unique space in financial markets. Under the Commodity Exchange Act, it has been treated as a commodity since 2015, placing it within the legal framework that governs commodities trading. Still, as digital assets evolve and regulatory frameworks shift, questions persist. This article explores Bitcoin's current classification, the difference between securities and commodities and why the distinction matters for regulators, investors and institutions. Understanding Security Vs. Commodity Clarifying the difference between a security and a commodity is fundamental to understanding how digital assets like bitcoin are regulated. A security is typically defined as a financial instrument representing an investment of money in a common enterprise, with the expectation of profit primarily from the efforts of others. A commodity refers to a basic good or asset that can be bought, sold or traded and is generally interchangeable with other goods of the same type. This section outlines the legal definitions and regulatory implications of each classification. A security is a legal and financial instrument that represents ownership, debt or the right to participate in the profits or governance of an entity. It includes a broad range of assets such as stocks, bonds, options, derivatives and investment contracts. An asset does not need to be publicly traded to be considered a security. What matters is whether it involves an investment of money in a common enterprise with the expectation of profit from the efforts of others, as outlined in the Howey Test, a case decided by the Supreme Court in 1946. If an asset meets this definition, it falls under federal and state securities laws and is subject to oversight by the U.S. Securities and Exchange Commission, including disclosure and anti-fraud requirements. Goods such as oil, gold, wheat and natural gas are considered commodities. These are standardized resources that are uniform in quality and interchangeable, making them essential to global trade and investment. In the United States, commodity trading is regulated by the Commodity Exchange Act, a federal law enacted in 1936 that established the legal foundation for the CFTC. Because commodity prices are driven by supply and demand, they are a key component in portfolio diversification, risk management and broader economic activity. U.S. Regulatory Perspectives On Bitcoin Bitcoin occupies a unique position in the U.S. regulatory landscape, with different agencies applying distinct classifications based on their legal mandates. While the CFTC views bitcoin as a commodity, the SEC does not consider it a security. The Internal Revenue Service treats it as property for tax purposes. The following section outlines how each agency approaches bitcoin and what their classifications mean for investors and market participants. The CFTC classifies bitcoin as a commodity under the Commodity Exchange Act, giving the agency authority when bitcoin is used in derivatives contracts or when fraud or manipulation occurs in interstate commerce. The CFTC emphasizes that while virtual currencies can function as a medium of exchange or store of value, they present risks such as cybersecurity vulnerabilities, fraud and market speculation, especially in the absence of broader regulatory oversight. The SEC has stated that bitcoin is not a security, aligning with the CFTC's view. In 2025, under Chairman Paul S. Atkins, the SEC launched 'Project Crypto' to modernize securities regulations and better accommodate digital asset innovation. While the SEC maintains that some crypto assets may meet the legal definition of a security under the Howey Test, it has committed to developing clear guidelines to help market participants understand which assets fall under securities laws. The goal is to promote responsible capital formation, ensure investor protection and support domestic innovation without applying outdated rules to modern technologies. The Internal Revenue Service approaches bitcoin from a tax perspective. For federal tax purposes, bitcoin is treated as property rather than currency. This classification means that buying, selling or exchanging Bitcoin may result in taxable capital gains or losses, depending on how the asset's value has changed. Individuals and businesses are required to report these actions in compliance with property tax rules. The IRS treatment of bitcoin highlights the importance of accurate recordkeeping and reporting for anyone engaging in digital asset transactions. Global Regulatory Viewpoints Around the world, governments are taking diverse approaches to regulating bitcoin and the broader digital asset sector. In 2023, the European Union moved forward with the Markets in Crypto-Assets regulation, or MiCA, which sets clear requirements for transparency, supervision and consumer protection. In Asia, regulatory attitudes vary, with some countries embracing innovation and others tightening oversight in response to market volatility and geopolitical tensions. Meanwhile, jurisdictions like Australia have clarified that crypto assets, not specifically bitcoin, are not legal tender but are treated as taxable property, with gains and staking rewards subject to capital gains and income tax. Why Bitcoin Could Be Considered A Commodity Several core characteristics support the view that bitcoin functions as a commodity within financial markets. First, it operates without a central issuer, meaning no single entity controls its production, distribution or monetary policy. Second, bitcoin is widely viewed and used as a store of value, much like gold, particularly in times of economic uncertainty. Third, it is traded on commodity markets and futures exchanges, where its price is determined by market supply and demand rather than the actions of a company or issuer. Together, these features align bitcoin with traditional commodities and help explain why U.S. regulators, including the CFTC, have classified it as such. Arguments For Bitcoin Being A Security While U.S. regulators have classified bitcoin as a commodity, some authorities have raised concerns about whether it could meet the definition of a security. As former SEC Chair Gary Gensler has stated, within the realm of crypto, 'everything but bitcoin' could be considered a security, implying that bitcoin's decentralized structure might place it outside the typical Howey Test framework. Meanwhile, legal analysts and investor protection advocates have speculated that bitcoin-holder behavior, namely purchasing with the 'expectation of profits,' could align with key prongs of the Howey Test. Implications of Bitcoin Being a Commodity Bitcoin's classification as a commodity places it under the oversight of the CFTC, not the SEC. As a result, it is not subject to securities laws requiring issuer disclosures or registration. This affects how exchanges operate and reduces regulatory burdens compared to securities platforms. For investors, the designation allows access to regulated futures markets but provides fewer built-in protections than securities frameworks. Implications Of Bitcoin Being A Security If Bitcoin were to be classified as a security, it would fall under the jurisdiction of the SEC and become subject to federal securities laws. This would potentially introduce additional compliance requirements, such as registration and disclosure obligations for users involved in trading or facilitating transactions. Exchanges might need to adjust their operations to meet regulatory standards. Such a shift could lead to changes in market access, trading practices and investor participation. It may also influence how financial products involving bitcoin are structured and offered, with potential effects on liquidity, innovation and overall market dynamics. Expert Opinions And Market Sentiment Industry opinions on bitcoin's classification and value vary widely, reflecting the broader debate around its role in the financial system. After the SEC approved spot bitcoin ETFs in January 2024, ARK Invest CEO Cathie Wood criticized former SEC Chair Gary Gensler's dismissive tone, calling it 'par for the course' of the skepticism that often accompanies disruptive technologies. Others emphasize bitcoin's technological significance. 'Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world has enormous value,' said Eric Schmidt, former CEO of Google. In contrast, JPMorgan Chase CEO Jamie Dimon has remained openly critical, stating, 'I personally think bitcoin is worthless.' These divergent views highlight the lack of consensus among financial leaders and underscore the importance of clear regulatory frameworks as bitcoin's role continues to develop. Bottom Line Bitcoin's legal identity plays a critical role in how it is regulated, traded and adopted within the financial system. It is currently treated as a commodity under U.S. law, supported by its decentralized design, use as a store of value and active trading on commodity markets. At the same time, its speculative appeal and investment-driven use continue to raise questions about whether some features align more closely with securities. Understanding the difference between securities and commodities helps clarify how the CFTC, SEC and IRS view bitcoin. As regulatory frameworks evolve, legal clarity will shape how bitcoin is taxed, accessed by investors and integrated into the broader economy. Ongoing policy developments will remain central to its future role in global markets. Frequently Asked Questions (FAQs) Is Bitcoin Legally A Commodity? Yes, the CFTC classified bitcoin as a commodity in 2015 under the Commodity Exchange Act. Has The SEC Ever Called Bitcoin A Security? No, the SEC has consistently stated that bitcoin is not a security. The SEC's position aligns with the CFTC's classification of bitcoin as a commodity. Does Bitcoin's Classification Change In Other Countries? Yes, bitcoin's classification varies by jurisdiction. Why Does The Classification Matter For Investors? Bitcoin's classification determines which regulations apply, affecting how it is traded, taxed and protected under the law. It also influences the level of oversight, investor protections, and access to financial products.
