The US CFTC reiterates that Ethereum is a commodity in its lawsuit against Kucoin

BlockBeats news, on March 27, The Block reported that the U.S. Commodity Futures Trading Commission (CFTC) once again asserted that Ethereum and several other cryptocurrencies are commodities, and regulators are locked in a tug-of-war as they compete for regulatory authority over the huge digital asset industry. Bitcoin, ethereum and litecoin are commodities, the derivatives regulator said on Tuesday in a legal case against the operators of cryptocurrency trading platform Kucoin, a press release showed. The CFTC’s assertion marks the regulator’s latest public attempt to identify blockchain’s native tokens as commodities within its regulatory scope. The U.S. Securities and Exchange Commission (SEC) has not yet explicitly declared Ethereum a security.