In the US, the head of the SEC confirmed that bitcoin is classified as a commodity
By Ihor Shulhach 2359 29 Jun 2022
The fact that bitcoin is considered by the SEC as a commodity was stated by Commission сhairman Gary Gensler.
He noted that since cryptocurrencies are speculative assets and people investing money in bitcoin are counting on profit, they have the attributes of securities, which automatically implies that they fall into the jurisdiction of the SEC.
The crypto community was quick to respond to Gensler’s words. Some experts noted that this is not the first time that commission chairmen have said that bitcoin is a commodity in the eyes of the SEC.
Microstrategy CEO Michael Saylor also wrote on Twitter that such statements provide an opportunity for the state and institutions to use bitcoin as an asset for economic development.
However, not everyone shares the excitement for the statement about the classification of bitcoin as a commodity. James Seyffart, an ETF analyst, noted that such rhetoric, despite its absolute positivity, is unlikely to influence the adoption of serious decisions by the commission.
Previously, the commission rejected any attempts to launch a spot bitcoin ETF since it was inconsistent with US securities law standards.