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On March 24, 2020, the Commodity Futures Trading Commission (“CFTC”) announced that it had unanimously adopted final interpretative guidance (“Final Interpretation”) regarding the term “actual delivery” as it is used in the Commodity Exchange Act (“CEA”) provisions governing retail commodity transactions in the context of virtual currencies.

With the country seemingly having survived its most recent Presidential impeachment, what is not commonly appreciated is the outsized role that Presidents involved directly or indirectly in impeachment proceedings have had on commodities regulation.

This past Thursday, October 10, 2019, at the Yahoo! Finance All Markets Summit in New York, Commodity Futures Trading Commission Chairman Heath Tarbert declared the virtual currency ether to be a “commodity.”  He said: It is my view as Chairman of the CFTC that ether is a commodity, and therefore it will be regulated under the CEA. The thing is, it isn’t.  At least, not right now.