Speaking at an event on November 30, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam suggested that Bitcoin (BTC) was the only cryptocurrency that should be considered a commodity. However, in a court filing dated December 13, the CFTC characterized Ethereum (ETH) as a commodity.
In its lawsuit against Sam Bankman-Fried, FTX and FTX's subsidiary Alameda Research, the CFTC referred to Ethereum, Bitcoin and Tether (USDT), among others, as commodities under US law, Cointelegraph reported.
"Certain cryptocurrencies, such as Bitcoin, Ethereum, and Tether, qualify as commodities as defined in Section 1a(9) of the Act, 7 U.S.C. § 1a(9)."
