The CFTC charged US-based startup Coinflip, which does business under the name Derivabit, 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 Commodity Exchange Act (CEA).
More specifically, the CFTC found that Coinflip violated Section 4c of the CEA and Part 32 of the CFTC’s regulations, and that it should have registered as a swap execution facility or designated contract market.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now