- 1 year ago

Feds shut down Bitcoin options and futures trading site


An government financial regulator has brought its first case against a Bitcoin-related firm, declaring that such cryptocurrencies are commodities.

With the move, the Commodity Futures Trading Commission (CFTC) has now clearly demonstrated what it hinted at in 2013 that it will go after Bitcoin-related companies that do not register with the agency and do not comply with federal law.

On Thursday, the CFTC announced it had issued an order against, and settled charges with Coinflip, operating under the name Derivabit, which allowed Bitcoin users to engage in options and futures trading. The site has been shut down.

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