According to COINOTAG on September 28, Howard Lutnick, CEO of Cantor Fitzgerald, a prominent US financial services firm, remarked that Bitcoin’s classification as a commodity has now been firmly established, urging for more defined regulation within the cryptocurrency space. Lutnick stated, “Bitcoin should be treated similar to gold and oil; it’s merely a commodity.” He further elaborated his view that over the next two decades, commodities and stocks might increasingly intersect. Expressing concerns, Lutnick noted that current regulators lack understanding of Bitcoin and the expansive digital asset landscape: “To be candid, they don’t know how to manage cryptocurrencies and digital assets; they are entirely out of their depth and unaware of the criticality of addressing these issues.” Additionally, Lutnick unveiled a Bitcoin loan initiative aimed at offering leverage to Bitcoin holders, planning to roll out a substantial “$2 billion loan” through their Bitcoin Financing Business.
Source: https://en.coinotag.com/breakingnews/bitcoin-is-a-commodity-like-gold-cantor-fitzgerald-ceo-calls-for-clearer-regulation/