US federal judge Rya Zobel has ruled that some cryptocurrencies meet the legal definition of commodities and are under the supervision of Commodity Futures Trading Commission (CFTC), Reuters reported on Thursday. The decision came several days after another judge said that some types of virtual coins are securities and can be under the control of the Securities and Exchange Commission (SEC).
The Zobel ruling comes as part of the CFTC’s actions against Randall Crater, the person behind the alleged cryptocurrency fraudulent activity of My Big Coin. In January, the regulator charged Crater and the company with the misappropriation of $6 million from investors between 2014 and 2018. CFTC also explained that the project had lured investo...
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