Howard Lutnick, financial services firm Cantor Fitzgerald CEO , has likened Bitcoin to gold and oil, arguing that it should be regulated as a commodity. In an interview, Lutnick expressed his frustration with the lack of understanding and regulation surrounding Bitcoin and other cryptocurrencies.
Cantor Fitzgerald CEO: “Regulation of Bitcoin Should be According to Commodity Laws”
“When you truly understand Bitcoin, it’s hard to see it any other way,” Lutnick stated, saying the need for a more commodity-like approach to regulating the cryptocurrency. He suggested that the regulatory landscape for cryptocurrencies would eventually align with that of commodities and equities, but that the process could take decades.
In fact, SEC Chairman Gary Gensler recently said in a statement that Bitcoin is a security.
However, the SEC considers most other cryptocurrencies to be securities, not commodities, and reiterates that it wants to regulate them. This once included Ethereum, but by approving the Ethereum Spot ETFs, the SEC effectively recognized that ETH is a commodity.
