The regulation of virtual currencies, or cryptocurrencies, is evolving. In an important new decision from the United States District Court for the Eastern District of New York, the Court held, among other things, that the Commodity Futures Trading Commission (CFTC) may regulate virtual currencies pursuant to the Commodity Exchange Act (CEA).
In McDonnell,[1] the CFTC brought suit against Patrick McDonnell and CabbageTech, Corp. d/b/a Coin Drop Markets, alleging that the Defendants operated a deceptive and fraudulent scheme and misappropriated investor funds after ...
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