Every financial regulatory body around the world seems to be trying to wrap their heads around Bitcoin and its underlying blockchain technology these days, and the Commodity Futures Trading Commission (CFTC ) in the United States is not immune to this trend.
Simply defining bitcoin as an asset has proved to be a difficult task for many regulatory agencies around the world, as some claim it is a commodity while others view it as a currency . The CFTC ruled that bitcoin is a commodity in late 2015.
To gain a better understanding of Bitcoin, the blockchain and other distributed ledger technologies, the CFTC is adding an experienced bitcoin trading expert, LedgerX CEO Paul L. Chou , to their committee of technology advisers. The independent agency of the U.S. government will also take time to focus on these new technologies in their first meeting of 2016.
LedgerX CEO Paul L. Chou Appointed to Technology Committee
The CFTC’s Technology Advisory Committee (TAC) was originally created in 1999 with the purpose of advising the regulatory body on the impact new technologies could have on futures markets. Regulatory and legislative recommendations are also made by the TAC. Current members of