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Federal court upholds CFTC's right to prosecute fraud involving virtual currency
UPDATED: October 4, 2018, 3:58PM EDT
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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)
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