US Judge Rules: Cryptocurrency is a Commodity for the Purposes of CFTC Case

[kreslik.news]

An American judge has decided that that crypto-tokens can be classed as commodities for the purposes of a criminal case.

US District Judge Rya Zobel said on Wednesday that the Commodity Futures Trading Commission’s case against My Big Coin Pay Inc, can go ahead. The latter’s lawyers had argued that the former had no authority because cryptocurrencies are not commodities. This decision is important because of the precedent set.

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My Big Coin Pay vs the Commodity Futures Trading Commission

My Big Coin Pay is a cryptocurrency company which the CFTC alleges to have run a scam.

It is the ... (read more)