Reported about 12 hours ago
The U.S. Commodity Futures Trading Commission (CFTC) has classified the memecoin Floki (FLOKI), inspired by Elon Musk’s dog, as a utility token during a Global Markets Advisory Committee meeting. The recognition highlights Floki's significant year-to-date growth of 411%, and its role in the upcoming blockchain-based metaverse game, Valhalla, set to launch in 2025. CFTC officials emphasized that for tokens to be considered utility tokens, they must provide immediate, practical use, which Floki does through its expanding ecosystem.
Source: YAHOO