CFTC chairman cites BTC, ETH, SOL, XLM, XTZ and XRP as digital commodities

U.S. CFTC Chairman Mike Selig cited BTC, ETH, SOL, XLM, XTZ and XRP as examples of digital commodities as the agency moves to draft its first formal rules for the crypto market, according to Wu Blockchain. While explaining a crypto asset taxonomy jointly developed with the U.S. SEC, Selig presented those coins as examples of digital commodities. He also said the CFTC plans to craft more specific crypto rules by distinguishing among digital commodities, retail trading, on-chain physical delivery, non-custodial wallets and software developers, rather than treating all crypto assets as a single category.