You are currently viewing Are U.S. Crypto Regulators Staking Out Territory Via Enforcement Actions?

As regulatory enforcement actions unfold between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), the latter just subtly claimed Ethereum (ETH) and DAI, a stablecoin backed by other crypto tokens, as digital commodities. The manner in which these two tokens are now being asserted is the crux of what may be a jurisdictional battle between the two agencies over who gets to regulate crypto.

With the latest CFTC action, the Ooki DAO complaint that was issued today involving complex legal arguments regarding whether the holders of governance token holders who vote in a DAO are liable, quietly under the surface the complaint labels the tokens on the Ooki exchange as commodities which gives the agency the necessary jurisdiction to file the complaint. Similarly, the SEC v. Wahi case against individuals who were accused of insider trading of tokens on the Coinbase exchange saw nine

Keep reading this article on Forbes Business.

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