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Crypto regulation: A 'principles-based' approach is best, CFTC saysYes, virtual currencies, such as Bitcoin, have been determined to be commodities under the Commodity. Exchange Act (CEA). Does the CFTC oversee Bitcoin? The. The two agencies shall require every firm offer- ing cryptocurrencies to register with either the CFTC or SEC. The CFTC, as supported by courts, has claimed that crypto constituting virtual currencies are just another commodity�like wheat, gold, and.