It’s time for the feds to define digital commodities By Cointelegraph

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It’s time for the feds to define digital commodities

Cryptocurrency Oct 16, 2022 05:20PM ET

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It’s time for the feds to define digital commodities

This month, the European Union (EU) agreed on the text for a unified licensing regime for cryptocurrency exchanges to operate across the EU bloc as part of its Markets in Crypto Assets Regulation (MiCA). The United States — despite being a traditional global leader in legal frameworks for technological innovation — has not provided that same regulatory clarity.

National cryptocurrency exchanges in the U.S. are regulated at the state level through a patchwork of money transmission laws that overburden companies while under-protecting consumers. In our view, many digital tokens are properly characterized as digital commodities rather than securities. Yet, a unified federal regime for cryptocurrency exchanges listing digital commodities does not exist.

Chen Li is the CEO of Youbi Capital, a digital asset VC and accelerator.

Ivo Entchev is a blockchain attorney and legal adviser to Youbi.

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US 30	32,920.5	+61.5	+0.19%
US 500	4,062.7	+11.9	+0.29%
Dow Jones	32,859.03	+141.43	+0.43%
S&P 500	4,050.83	+23.02	+0.57%
Nasdaq	12,013.47	+87.24	+0.73%
S&P 500 VIX	19.02	0.00	0.00%
Dollar Index	101.832	+0.011	+0.01%

Crude Oil WTI	74.35	-0.02	-0.03%
Brent Oil	78.47	-0.13	-0.17%
Natural Gas	2.099	-0.004	-0.19%
Gold	1,999.05	+1.35	+0.07%
Silver	24.078	+0.089	+0.37%
Copper	4.0918	-0.0197	-0.48%
US Soybeans	1,472.00	-2.50	-0.17%

U.S. 10Y	3.560	+0.009	+0.26%
U.S. 30Y	3.748	+0.002	+0.05%
U.S. 5Y	3.6819	+0.0190	+0.52%
U.S. 3M	4.9102	+0.0960	+2.00%
US 10Y T-Note	114.50	-0.08	-0.07%
Euro Bund	135.32	-0.05	-0.04%
10-2 Yield Spread	-53.71	-2.44	4.76%

Apple	162.36	+1.59	+0.99%
Alphabet A	100.89	-0.50	-0.49%
Tesla	195.28	+1.40	+0.72%
Amazon.com	102.00	+1.75	+1.75%
Netflix	338.43	+6.40	+1.93%
Meta Platforms	207.84	+2.49	+1.21%
Bank of America	28.30	-0.37	-1.29%

It’s time for the feds to define digital commodities

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