Commissioner Mark Wetjen made the remarks as Bitcoin is classified as a commodity under the Commodity Exchange Act, coindesk.com reports. He added that this gives the regulating body the authority to bring enforcement on any type of manipulative activity, thereby broadening the reach of how a commodity can be defined.
The CFTC does not have a “special focus” on Bitcoin and it is currently looking at the rule set and understanding Bitcoin-related regulatory obligations, as it does with all asset classes.
The agency notably approved the first regulated financial instrument tied to Bitcoin in the US, when it gave the greenlight to swap execution facility TeraExchange to launch USD/BTC swaps on its platform in September 2014.
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