CFTC Calls Virtual Currencies 'Goods' At Boston Hearing

By Alison Noon (June 14, 2018, 9:16 PM EDT) -- The U.S. Commodity Futures Trading Commission told a federal judge in Boston on Thursday that virtual currencies fall within the definition of "goods and articles" it can regulate, arguing for jurisdiction over the expanding industry where the agency says scams are flourishing.

The CFTC, in its fraud suit against one such cryptocurrency, asserted that virtual currencies "operate" as goods and should be included in that "very broad term."

The agency sued My Big Coin, its founder Randall Crater and salesman Mark Gillespie in January, claiming they stole $6 million from 28 people between 2014 and June 2017 to bankroll luxury Las...

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