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Are Cryptocurrencies Commodities or Securities?

It Depends on Which US Agency You Ask

Paragraph 1:

As Congress considers regulating cryptocurrency, the major question that seems to be on everyone's mind is whether it should be considered a security.

Paragraph 2:

The classification of cryptocurrency as a security or not has a significant impact on the way it is regulated. If it is deemed a security, it will be subject to the same regulations as stocks and bonds. This would give the Securities and Exchange Commission (SEC) authority over cryptocurrency exchanges and initial coin offerings (ICOs).

Conclusion:

The debate over whether cryptocurrency is a security or not is likely to continue for some time. However, the outcome of this debate will have a major impact on the future of cryptocurrency regulation in the United States.