Bitcoin is Commodity | Judge Rules Cryptocurrencies are Commodities
Bitcoin is Commodity | Judge Rules Cryptocurrencies are Commodities:
Bitcoin is Commodity, it is confirmed by a fedral judge of US. According to him CryptoCurrencies like bitcoin are commodities. Bitcoin and other coins can regulated by US (CFTC) commodities futures trading commission.
This was the opinion of CFTC. CFTC was trying to approve it and now it has been approved by a fedral judge that bitcoin is commodity.
Bitcoin is Commodity because Judge Rules Cryptocurrencies are Commodities
Cryptocurrencies are Commodities this news is good for investors. Now investors not need to care about some questions like. Is Cryptocurrency legal in USA or not ? Is bitcoin legal in USA or not ?
So now it is part of commodities just like gold. silver and many other symbols. Bitcoin and other currencies are also part of commodities. Very soon you will able to trade on cryptocurrency. Cryptocurrency trading was also big problems for traders. Because there is very less amount of brokers who allow Crypto trading.
For now people can trade crypto coin very easily in commodities. Very soon there will a lot of brokers who will accept bitcoin, ripple, IOTA, EOS, Ethereum and many other coins as a trading pair.
Also Read: CryptoCurrency Trading Guide
But there are some problems, it is only accepted by US. There are some countries which are not accepting bitcoin and other crypto coins. India also banned bitcoin some days ago.
But good news is that bitcoin and other cryptocurrencies are now part of commodities. They are regulated by CFTC US. As US accepted it as commodities then many other countries will also accept it due to US.
Due to this big news investors will buy cryptocurrencies in bulk and there will chances that prices of coins increase dramatically. So be ready for a big boost in cryptocurrency prices. Not only bitcoin will boost but also ripple price will increase. As you know ripple is already controlled and use by a lot of banks that’s why its price will increase very soon.