Bitcoin Operator Coinflip Settles with the Feds

In the first enforcement case against a Bitcoin operator after recognizing the cryptocurrency as a commodity, Bitcoin operator Coinflip has reached a settlement with the U.S. Commodity Futures Trading Commission (CFTC). With the new ruling that virtual currencies are to be recognized as commodities that are under the rules and regulations of existing laws, the U.S. derivatives regulators brought their first case against a Bitcoin trading platform, Reuters reports. The Federal agency said that a settlement had been reached with San Francisco-based trading platform Coinflip and its CEO Francisco Riordan. The charges were originally brought forward against the company and […]

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