Advantages: The US Commodity Futures Trading Commission (CFTC) recently issued a document, and for the first time, virtual currencies such as Bitcoin are reasonably defined as commodities, just like the classification of crude oil or wheat. This means that bitcoin futures and options must comply with CFTC regulations and be supervised, and trading behavior needs to comply with all commodity derivatives market rules. The road to making Bitcoin super legal and compliant is one step closer.
Disadvantages: The Commodity Futures Trading Commission (CFTC) recently issued a document, which for the first time defined virtual currencies such as bitcoin as commodities, just like the classification of crude oil or wheat. This means that bitcoin futures and options must comply with CFTC regulations and be supervised, and trading behavior needs to comply with all commodity derivatives market rules. CFTC will be able to punish misconduct, such as market manipulation. This also violates the original intention of Bitcoin.