1、CRS Legal Sidebar Prepared for Members and Committees of Congress Legal SidebarLegal Sidebari i CFTC and Virtual Currencies: New Court Rulings and Implications for Congress Updated December 6, 2018 Over the past few months, several federal district courts have ruled in favor of the Commodity Futures
2、 Trading Commission (CFTC) in its first wave of fraud-based enforcement actions involving Bitcoin and other virtual currencies (also referred to as digital currencies, cryptocurrencies, digital tokens or digital coins). With several district court judges now agreeing with the CFTCs position that vir
3、tual currencies are “commodities” as defined in the Commodity Exchange Act (CEA or Act), new legal authority supports the CFTCs efforts in enforcing against fraud and manipulation, in addition to carrying out certain other powers, in the virtual currency realm. With these new rulings come possible n
4、ew legal questions that Congress may consider, including the decisions implications for the CFTCs enforcement authority and the overall scheme of regulation for digital coins. Moreover, as discussed further below, the new case law, coupled with enforcement activity underway by the Securities and Exc
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