RE: CFTC announces that federal court finds that virtual currencies are commodities

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CFTC announces that federal court finds that virtual currencies are commodities

in cftc •  6 years ago 

Intriguing.

Commodities represent actual, physical products.

Can be distinguished in four categories: energy (oil, gas, electricity), metals (gold, copper, iron), livestock and meat (beef, pork bellies, live cattle) and agricultural products (rice, palm oil, corn, coffee, cocoa, cotton, sugar, orange juice).

This applies to Crypto as a currency:

A change in the price of commodities such as electricity or rice will be directly felt through a change in purchasing power.

Commodities are standing still, their price determined by global forces of supply, demand and the occasional natural disaster.

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