Should it become law, the bill would undoubtedly implement major changes to the current regulatory landscape. Kirsten Gillibrand and Cynthia Lummis have confirmed that Bitcoin (BTC) and Ether (ETH) will be classified as commodities and regulated by the Commodity Futures Trading Commission (CFTC). At the same time, bill authors consider most altcoins securities subject to U.S. Securities and Exchange Commission (SEC) regulations. “It will be a struggle to decipher what exactly is in the SEC bucket, but it could be the exception that swallows the rule,” a worried expert told Cointelegraph.
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Source: Cryptocurrency - investing.com
