Bitcoin Deserving Commodity Treatment Like Gold, Says Cantor Fitzgerald CEO
During an appearance on Fox Business on September 27, Howard Lutnick, the CEO of Cantor Fitzgerald, asked regulators to categorize Bitcoin as a commodity, paralleling gold and oil. Lutnick urged for more precise regulation of the cryptocurrency industry and asserted that Bitcoin’s status as a commodity is well-established in the Mornings with Maria interview.
Bitcoin is a commodity. It should be treated like gold and like oil. It’s just a commodity.
Lutnick
Would laws governing commodities and other items traded on Cantor Fitzgerald’s exchange be comparable to those governing equities, Maria questioned Lutnick. It will take a long time, maybe 20 years, according to Lutnick, for commodities and stocks to combine. Regulators’ failure to understand the significance of Bitcoin and the larger digital asset market worries the CEO.
Let’s face it: they don’t even know how to do crypto and digital at all, and they have no idea; they still don’t understand how important it is to get it right.
Lutnick
Trump Taps Howard Lutnick for 2024 Transition Team After $2 Billion Bitcoin Loan Announcement
Lutnick revealed the creation of a Bitcoin loan program on July 27 at the Bitcoin 2024 conference in Nashville, Tennessee, providing leverage to Bitcoin owners. The CEO of the financial services company announced that $2 billion would be lent out through its Bitcoin financing venture at launch.
The campaign team of former US President Donald Trump announced on August 16 that, should he win the presidential election in November, Lutnick would co-lead the transition team for the Republican nominee. Together with Linda McMahon, the other co-founder of World Wrestling Entertainment, Lutnick will be in charge of the transition team’s personnel management and policy organization. The head of Paradigm’s government affairs, Alex Grieve, said in an August 16 X post that the Cantor Fitzgerald CEO is a major cryptocurrency bull, so Lutnick’s addition to the team is quite significant for the industry.
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