Is forex trading considered a form of digital currency trading in the US?

3 answers

• PHPHTML5Nov 05, 2023 · 2 years ago
  Forex trading and digital currency trading are distinct forms of financial activities. Forex trading involves the buying and selling of different national currencies, while digital currency trading focuses on cryptocurrencies like Bitcoin and Ethereum. Although both involve trading and speculation, they operate in different markets and have their own unique characteristics. In the US, forex trading is regulated by the Commodity Futures Trading Commission (CFTC), while digital currency trading falls under the jurisdiction of the Securities and Exchange Commission (SEC) and the Financial Crimes Enforcement Network (FinCEN). Therefore, while they share some similarities, they are not considered the same thing in the US.
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• Buckley SvaneSep 13, 2020 · 5 years ago
  No, forex trading is not considered a form of digital currency trading in the US. Forex trading involves the exchange of different national currencies, such as USD, EUR, and JPY, whereas digital currency trading focuses on cryptocurrencies like Bitcoin and Ethereum. While both involve trading and speculation, they operate in separate markets and have different regulatory frameworks. Forex trading is regulated by the CFTC, while digital currency trading falls under the jurisdiction of the SEC and FinCEN. Therefore, they are considered distinct forms of financial activities in the US.
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• Stanley MuiruriSep 26, 2022 · 3 years ago
  As an expert in the field, I can confirm that forex trading is not considered a form of digital currency trading in the US. Forex trading involves the buying and selling of different national currencies, while digital currency trading focuses on cryptocurrencies like Bitcoin and Ethereum. While both involve trading and speculation, they are regulated by different authorities and operate in separate markets. Forex trading is regulated by the CFTC, while digital currency trading falls under the jurisdiction of the SEC and FinCEN. Therefore, they are treated as separate entities in the US financial system.
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