BTC has the best legal argument for being treated as a commodity, but there has been no legislative decision on this.
The CTFC sees BTC and ETH as commodities. Gensler pre-SEC said BTC, ETC, and LTC are commodities. The SEC and Gensler post-SEC says they are all securities, except maybe BTC.
The Ripple decision (Yesterday) says that unless a crypto is contractually sold to an investor (e.g. not directly listed via an exchange) then its doesn't fall under the Howey test.
BTC has the best legal argument for being treated as a commodity, but there has been no legislative decision on this.
The CTFC sees BTC and ETH as commodities. Gensler pre-SEC said BTC, ETC, and LTC are commodities. The SEC and Gensler post-SEC says they are all securities, except maybe BTC.
The Ripple decision (Yesterday) says that unless a crypto is contractually sold to an investor (e.g. not directly listed via an exchange) then its doesn't fall under the Howey test.
https://www.reuters.com/legal/us-judge-says-sec-lawsuit-vs-r...