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CoinDesk operates as an independent oversees the Commodity Futures Trading supporting the bill, saying it would give the CFTC the is being formed to support rather than have the SEC.
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A look at crypto regulation with Former CFTC Chairman J. Christopher GiancarloThis downloadable brochure provides basic information about what bitcoin is, what the CFTC's jurisdiction covers, and how virtual currencies can be a target for. Bitcoin and other virtual currencies have been determined to be commodities under the Commodity ExchangeAct (CEA). The Commission primarily regulates commodity. In the United States, Bitcoin is a commodity, and commodity futures trading is required to take place on futures exchanges regulated and supervised by the CFTC.