Mike Selig, Chairman of the US Commodity Futures Commission (CFTC), cited Bitcoin ($BTC), Ethereum ($ETH), Solana ($SOL), Stellar ($XLM), Tezos ($XTZ), and $XRP as examples of “digital commodities.” The announcement comes as the CFTC begins drafting its first formal rules for the cryptocurrency market.
According to Wu Blockchain, Selig, while explaining the crypto asset classification jointly developed by the CFTC and the U.S. Securities and Exchange Commission (SEC), presented these six crypto assets as examples of digital commodity categories.
Selig’s remarks are noteworthy in the context of efforts to create a more detailed framework for the regulatory status of crypto assets in the US. The CFTC Chair stated that the institution plans to differentiate between various activities and asset types, rather than classifying the entire crypto market under a single category.
