CFTC: Bitcoin Is a Commodity
Bitcoin is now a commodity according to the Commodity Futures Trading Commission (CFTC). On Thursday the organization publicly stated it had settled with a Bitcoin exchange for trading option contracts after an enforcement case against a Bitcoin operator. "In this order, the CFTC for the first time finds that Bitcoin and other virtual currencies are properly defined as commodities," according to the press release. CFTC now has authority to oversee cryptocurrency futures and options. Bitcoin derivatives and futures platforms must register as a swap execution facility or designated contract....
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Much like gold, oil, or soybeans, Bitcoin is now officially considered a commodity. The agency that regulates the US commodity trading market, the Commodity Futures Trading Commission (CFTC) has finally recognized the digital currency as a commodity. The debate on bitcoin can be defined as a commodity or not as been here for quite some time and the FCTC. By officially recognizing the digital currency as a commodity the CFTC assures its authority to supervise the trading of digital currency futures and options, which will now be subject to the agency's regulations. If there is any....
A commissioner at the Commodity Futures Trading Commission (CFTC) has asserted the agency has the authority to take enforcement actions against price manipulation in bitcoin markets. Commissioner Mark Wetjen made the remarks at a bitcoin conference held at Bloomberg in New York on Monday. When asked if the CFTC has the authority to become intervene in such an event, he said: "It has not been tested, but I do believe we have the authority because bitcoin, by I think a very rational reading of our statute, classifies as a commodity and the definition of a commodity under the Commodity....
Bitcoin and other cryptocurrencies have been officially deemed a commodity by the Commodity Futures Trading Commission on September 17. The official CFTC press release reads: Now digital currencies such as bitcoin are in the same category as gold or oil in the U.S. This new authoritative policy gives the agency oversight with businesses operating with the virtual money and the means to regulate it. "In this order, the CFTC for the first time finds that Bitcoin and other virtual currencies are properly defined as commodities." CFTC director of Enforcement Aitan Goelman:
The US Commodity Futures Trading Commission (CFTC) has issued its first action against an unregistered bitcoin options trading platform, ordering the startup to cease operations and simultaneously settling the case. The CFTC charged San Francisco-based startup Coinflip Inc, which does business under the name Derivabit, and CEO Francisco Riordan with conducting activity related to commodity options, without registering with the agency or meeting rules for exemption. With the ruling, the CFTC has also confirmed that bitcoin and other digital currencies are commodities covered by the....
The Commodity Futures Trading Commission (CFTC) has charged Payward Ventures, the operator of cryptocurrency exchange Kraken, “for illegally offering margined retail commodity transactions in digital assets, including bitcoin, and failing to register.” CFTC Charges Kraken, Imposes $1.25 Million Penalty The Commodity Futures Trading Commission (CFTC) announced Tuesday that it has imposed a $1.25 million penalty on cryptocurrency exchange Kraken. The derivatives regulator issued an order filing and settling charges against Payward Ventures Inc., dba Kraken, “for....