Federal court upholds CFTC's right to prosecute fraud involving virtual currency

The U.S. District Court for the District of Massachusetts denied My Big Coin's motion to dismiss CFTC's complaint against it. In January 2018, the CFTC filed a complaint against My Big Coin, claiming that the facilitators of the cryptocurrency project were committing commodity fraud. CFTC alleged that My Big Coin “is a virtual currency and it is undisputed that there is futures trading in virtual currencies (specifically involving Bitcoin).” (Source: CFTC)