Cryptos are Commodities, Rules US Federal Judge
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Cryptos are Commodities, Rules US Federal Judge
A United States federal judge has ruled that the US Commodity Futures Trading Commission (CFTC) can legally classify and regulate cryptocurrencies as commodities, according to a new report from Reuters.
The US district judge responsible for the ruling is Brooklyn’s Jack Weinstein, who declared that the CFTC had legitimate legal standing to go forward with a fraud lawsuit against New Yorkresident Patrick McDonnell. The CFTC originally filed a complaint against McDonnell and his company, Coin Drop Markets, in January of 2018.
The complaint alleged that McDonnell had been selling fraudulent investment advice, or rather, that ... (read more)
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