Brian Quintenz, a commissioner at the Commodity Futures Trading Commission (CFTC), claimed that tokens may “transform” from securities into commodities while speaking at the first annual FinTech Week. The man suggests that tokens can meet distinct regulatory classifications at different times. The assumption, actually, aligns with the policy view of industry experts like Coin Center.
Digital currencies "may actually transform at some point from something that starts off as a security and transforms into a commodity,” speculated Quintenz, as reported by politicopro.com.
That's going to be a very difficult but important conversation for us to have to give the market certainty, to allow for innovation to flourish and continue, but [it’s necessary] to make sure that we're being consistent in how we apply commodity law and protection of consumers across all products.
It is worth noting that eatlir this week, LabCFTC issued a primer on virtual currencies. Although this did not constitute official policy, the agency enumerated examples of permitted activities including those of LedgerX, TeraExchange, and NADEX. Thus, LabCFTC explicitly stated that prohibited activities include “a virtual currency futures or option contract or swap traded on a domestic platform or facility that has not registered with the CFTC as a SEF [swap execution facility] or DCM [designated contracts market]".