Bitcoin now classed as a commodity in the US

  • Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency.
  • The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations.
  • It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm.
  • This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC’s scope.

Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the CFTC.
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