From Investing.com

July 11, 2024 07:18:37 AM:

Bitcoin and Ethereum officially recognized as commodities by US court ruling, marking a milestone for the crypto community. But SEC vs. CFTC power struggle continues, causing regulatory chaos. Senator calls for full digital asset oversight by CFTC to simplify industry regulation. Uncertainty looms in the crypto market without clear guidelines.

Court ruling confirms Bitcoin and Ethereum as commodities under Commodity Exchange Act, despite SEC Chairman’s stance. Clash between regulators sparks confusion and market chaos. Retail investors and overall market could suffer without clear regulatory frameworks. Will this victory for crypto turn out to be a curse in disguise?

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Read more at Investing.com: Bitcoin, Ethereum, and 80% of cryptos are commodities – Risk for investors? By Investing.com