The US Commodity Futures Trading Commission (CFTC), which filed a lawsuit against the cryptocurrency exchange Kucoin today, stated in its criminal complaint that in addition to Bitcoin, Ethereum and Litecoin also qualify as commodities.
Assets described as commodities are regulated by the CFTC instead of the SEC, which is known for its harsh stance against cryptocurrencies. However, the SEC had recently attempted to classify Ethereum as a security.
SEC Chairman Gary Gensler maintains that all cryptocurrencies except Bitcoin are securities, but until this year he had taken a more moderate stance on ETH.
The US Commodity Futures Trading Commission argued today that it accused the cryptocurrency exchange Kucoin of operating an illegal digital asset derivatives exchange.
In its statement, the CFTC noted that Kucoin solicited and accepted orders for commodity futures, swaps and other commodity transactions without registering with the agency.
*This is not investment advice.
