A United States District Court judge has declared Ether (ETH) and Bitcoin (BTC) as “crypto commodities” in her dismissal of a class action lawsuit against the decentralized exchange Uniswap. Judge Katherine Polk Failla, who is also overseeing the SEC lawsuit against Coinbase, dismissed the case brought by Uniswap users who claimed they lost money due to scam tokens on the exchange. In July, another judge classified XRP as a security when sold through programmatic sales on exchanges. This has caused a tussle between the Securities and Exchange Commission and the Commodity Futures Trading Commission over jurisdiction concerning cryptocurrencies. SEC chair Gary Gensler has claimed “everything other than Bitcoin” is a security under his agency’s remit, while the CFTC has laid claim to ETH and other cryptocurrencies as commodities. Multiple bills to provide digital asset regulatory clarity are inching their way through Congress. Some, such as the Financial Innovation and Technology for the 21st Century Act, aim to create a process for categorizing cryptocurrencies into either securities or commodities. Others explicitly hand power to a regulator such as the Digital Commodity Exchange Act which sees crypto spot exchanges registered and regulated under the CFTC. The Digital Asset Market Structure Bill, meanwhile, would see cryptocurrencies undergo SEC certification to prove adequate decentralization before being given commodity status.

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Information	Details
Geography	North America
Countries	🇺🇸 🇯🇵 🇬🇧
Sentiment	neutral
Relevance Score	8
People	Gary Gensler, Katherine Polk Failla
Companies	SEC, Tether, Bitfinex, CFTC, Uniswap
Currencies	Ethereum, XRP, Bitcoin, Tether, Uniswap
Securities	None