US federal judges: Virtual currencies like bitcoin are also commodities Judge Weinstein also issued a temporary ban on McDonnell and Coin Dr...
US federal judges: Virtual currencies like bitcoin are also commodities
Judge Weinstein also issued a temporary ban on McDonnell and Coin Drop Markets. McDonnell declined to comment on the decision.
The CFTC, which regulates commodities, futures and derivatives, first recognizes virtual currencies as commodities by 2015.
Judge Weinstein reinforced the decision on March 6, saying the decision was literally the word "commodity" and the CFTC had multiple powers to interpret the federal law on commodity management. .
In the suit, the CFTC said McDonnell and his company provided fraudulent advice on virtual currency transactions to clients.
According to CFTC, clients have never received the advice they pay to hear and Coin Drop Markets never registered with CFTC. According to the commission, McDonnell closed the company's website and stopped responding to customers.
Virtual currency regulations are still in its infancy in the United States. The parliament has not yet passed a law to directly manage virtual money. Both the CFTC and the Securities and Exchange Commission (SEC) warned of the urgency of fighting fraud in the virtual currency market.
Judge Weinstein also issued a temporary ban on McDonnell and Coin Drop Markets. McDonnell declined to comment on the decision.
The CFTC, which regulates commodities, futures and derivatives, first recognizes virtual currencies as commodities by 2015.
Judge Weinstein reinforced the decision on March 6, saying the decision was literally the word "commodity" and the CFTC had multiple powers to interpret the federal law on commodity management. .
In the suit, the CFTC said McDonnell and his company provided fraudulent advice on virtual currency transactions to clients.
According to CFTC, clients have never received the advice they pay to hear and Coin Drop Markets never registered with CFTC. According to the commission, McDonnell closed the company's website and stopped responding to customers.
Virtual currency regulations are still in its infancy in the United States. The parliament has not yet passed a law to directly manage virtual money. Both the CFTC and the Securities and Exchange Commission (SEC) warned of the urgency of fighting fraud in the virtual currency market.
Source: Tàng kiếm sơn trang
