Post
Topic
Board Press
Re: [2019-11-10] CFTC says Bitcoin AND ETH are Commodity
by
magneto
on 12/10/2019, 09:58:51 UTC
https://finance.yahoo.com/news/cftc-says-cryptocurrency-ether-is-a-commodity-and-is-open-to-ether-derivatives-133455545.html

On Bitcoin  - cannot agree more



ETH was ICO - doesn't work as promised and goes PoS - Vitalik controlled, is even more what a security defines ( Shares = right to min and earn dividends )


 Huh

I agree with the ETH evaluation, because of the fact that it can be manipulated by a single party essentially due to the sheer amount of influence this person has over the community. Also, it was ICO'd, which probably makes it more suitably categorised as a utility token, or security.

I think that classifications themselves don't really matter that much on paper. It's not a matter of principles, but what these classifications bring in terms of tax and regulations.

I'm no expert in this field, and I'd be interested to know how would something being classified as a commodity be different from a regulatory viewpoint compared to a currency?