Uniswap founder Hayden Adams said U.S. Commodity Futures Trading Commission (CFTC) Chair Michael Selig recently described UNI as a commodity during an appearance on Bankless.

According to Odaily, Adams wrote on X that he had just noticed Selig’s remarks from a few days earlier.

Adams said he viewed the statement as progress compared with what he described as regulators previously suing broadly without providing guidance.