The U.S. Commodity Futures Trading Commission (CFTC) has entered into a court case that could determine if it has the authority to regulate cryptocurrencies.
Reuters reported on Wednesday that the CFTC had sued Randall Crater’s tech company and the cryptocurrency My Big Coin in January.
Allegedly, Crater and his company “perpetrated a $6 million [USD] fraud on people who wanted to buy My Big Coin.”
CFTC Court Case
According to the article, Crater’s lawyers have said the CFTC does not have any authority on the cryptocurrency because it is not a …
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