Court Finds That Virtual Currency Is a Commodity—For the Time Being

On September 26, 2018, a US federal court found that virtual currency constitutes a class of items that are commodities under the Commodity Exchange Act (“CEA”) because one member of that class, Bitcoin, is the subject of futures trading. This is the first judicial opinion to directly address the question of whether virtual currencies other than Bitcoin are commodities under the CEA.

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Mayer Brown partners David L. BeamJerome J. Roche, J. Paul Forrester, and associate Matthew Bisanz report on the new guidance and highlight areas of interest in this Legal Update.

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