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SEC To LBRY:


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Decentralization is a concept that has consistently
vexed the entire blockchain-enabled ecosystem in the U.S.,
including its counsel and regulators, wherein a lack of clarity on
the exact definition of decentralization has left relevant
stakeholders routinely talking past one another. As such, market
participants have been eagerly waiting for the U.S. Securities and
Exchange Commission (the
SEC) to explain the
agency s understanding of what it means for a
blockchain-enabled network to be sufficiently
decentralized. Based on the SEC s recent enforcement
action, it looks like the agency is getting ready to take a deep ....

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CFTC Regulatory Approach to Virtual Currencies


Monday, December 21, 2020
Virtual Currencies as Commodities
In recent years, the U.S. Commodity Futures Trading Commission (CFTC or the Commission) has taken a role as one of the regulators of cryptocurrency in the United States. In this article, we review the CFTC’s regulatory and enforcement approach in this space.
In December 2014, the CFTC stated that virtual currencies are encompassed under the definition of a “commodity” in the Commodity Exchange Act (CEA), and thus subject to its jurisdiction.
[1] Nine months later, in September 2015, the CFTC brought its first enforcement action against an unregistered Bitcoin option trading platform.
[2] With its first action, the CFTC declared that “Bitcoin and other virtual currencies are encompassed in the definition and properly defined as commodities.” ....

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