A definition for Cryptocurrency ‘Delivery’ proposed by US Commodities Regulator

Cryptocurrency North America United States

A definition of cryptocurrency ‘delivery’ from buyer to the seller has been proposed in a document published by the U.S. Commodity Futures Trading Commission (CFTC), an agency which announced its intent to regulate bitcoin as a commodity more than two years ago.

The document defines delivery as having taken place when the buyer has the ability to take possession and control of the cryptocurrency and use it freely in commerce, within 28 days of the transaction and, at the same time, the seller does not retain any interest or control over the sold items.

Once the interpretation is published in the Federal Registry, the public will have 90 days to comment on it before it becomes final.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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