The word “cryptocurrency” can be somewhat misleading. In one sense, these assets are currencies because you can buy and sell things with them, but most of the time, they don’t like currency. The way people invest in crypto resembles the security market, but crypto also resembles a commodity.
A federal judge has supported the US Commodity Futures Trading Commission’s stance that cryptocurrencies are commodities, allowing the derivatives regulator to pursue fraud allegations against My Big Coin Pay.
In January of this year, the CFTC filed a federal court enforcement action against Randall Crater,
The government of India may not ban cryptocurrencies entirely, an unnamed senior government official told news outlet Quartz.
The government official said a Finance Ministry panel has ordered a study on cryptocurrencies, which may suggest that India would treat virtual currencies as commodities.
Indonesia’s Trade Ministry Futures Exchange Supervisory Board (Bappebti) has signed a decree to make cryptocurrency a commodity that can be subject to futures trading.
Dharma Yoga, Bappebti’s market supervision chief, said that the agency decided to allow cryptocurreny to trade as a commodity after the board conducted a study on the matter in the last four months.
Jack Weinstein, a federal judge for the Eastern District of New York, has ruled that the US Commodity Futures Trading Commission (CFTC) can legally classify and regulate cryptocurrencies as commodities.
On Tuesday, Judge Weinstein agreed that cryptocurrencies should be treated as commodities. He said it was supported by the plain meaning of the word “commodity” and that the CFTC had broad leeway to interpret the federal law regulating commodities.
The US Commodity Futures Trading Commission (CFTC), the leading commodities regulator in the US, has formally allowed its employees to trade cryptocurrencies.
CFTC general counsel Daniel J. Davis issued a memorandum to staff titled “Guidance Regarding Ethics Laws and Regulations Related to Employee Holdings and Transactions in Cryptocurrencies.”
Digital money platform Uphold has entered into a $57.5 million partnership with former Fed Reserve senior analyst and Ripple chief risk officer Greg Kidd.
Uphold, formerly Bitreserve, is a cloud-based financial services platform enabling users to convert deposits to their account via bank account,