Could Cryptocurrencies be Both 'Commodities' and 'Securities'?
Markets are buzzing about cryptocurrency, but as initial coin offerings (ICOs) have exploded onto the scene as a fund-raising device for early-stage companies, regulators have taken notice and directed stern warnings to just about everyone involved.
Here, Jim Walker (Partner and General Counsel, Richards Kibbe & Orbe) analyzes a decision from the Eastern District of New York that upheld the Commodity Futures Trading Commission's assertion of jurisdiction over cryptocurrencies, but left some gray areas as to whether some or all digital currencies may be subject to regulation by multiple agencies (CFTC, SEC, etc.).
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