Cryptocurrencies are securities or commodities

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Why bitcoin and other cryptocurrencies aren't securities: SEC director
Are instruments that take the form of peer-to-peer, open-source ledger technology securities, commodities, or assets that cannot be defined using existing. He has repeatedly stated that Bitcoin is not a security under the federal securities laws, but rather a commodity under the Commodity Exchange. One potential outcome of this debate would be that some cryptocurrencies are classified as securities, while others are classified as.