operating unregistered SEF

On September 17th, the Commodity Futures Trading Commission (“CFTC”) announced an enforcement order and settlement against an unregistered bitcoin options trading platform. The order is notable for six reasons:

1) It is the first official pronouncement from the CFTC that, “Bitcoin and other virtual currencies are encompassed in the definition [of a commodity under the Commodity Exchange Act] and properly defined as commodities”.  This is significant since
Continue Reading CFTC Brings First Enforcement Action Against Unregistered Bitcoin Options Trading Platform