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CFTC Determines That Bitcoin and Other Virtual Currencies Are Commodities

By Bryan Daly, Jacob Preiserowicz & Melissa G.R. Goldstein on September 18, 2015
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n Sept. 17, 2015, the Commodity Futures Trading Commission issued an order against an online platform (and against its sponsor) for facilitating the trading of Bitcoin options contracts.[1] The Order is based on the activities of Francisco Riordan, the chief executive officer of Coinflip Inc., and of Coinflip itself in operating an unregistered online trading platform that enabled trading in Bitcoin-based derivatives.

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Photo of Bryan Daly Bryan Daly

Bryan Daly is a partner in the Governmental and White Collar Defense Practice Groups and works out of the firm’s Los Angeles office. Bryan is a former Assistant U.S. Attorney for the Central District of California, Criminal Division, Public Corruption and Government Fraud…

Bryan Daly is a partner in the Governmental and White Collar Defense Practice Groups and works out of the firm’s Los Angeles office. Bryan is a former Assistant U.S. Attorney for the Central District of California, Criminal Division, Public Corruption and Government Fraud Section.

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  • Posted in:
    Banking, Finance and Securities
  • Blog:
    Regulatory & Compliance Update
  • Organization:
    Schulte Roth & Zabel LLP

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