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Just two days after being granted a preliminary injunction in its case against Patrick McDonnell and Coin Drop Markets, the CFTC used that ruling to give notice of supplemental authority in another cryptocurrency-related case.
On March 8, 2018, the Commodity Futures Trading Commission (CFTC) filed a notice of supplemental authority in its case against My Big Coin Pay, Inc., Randall Crater, and Mark Gillespie (Case No. 18-CV-10077). The notice is related to the preliminary injunction which the agency was granted in another virtual currency case, CFTC v. McDonell.
Last week, ETHNews reported on the ruling, which supports the CFTC's 2015 finding that virtual currencies like bitcoin are commodities.
The notice of supplemental authority can be seen below:
Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.
In a report published by the Bank for International Settlements, the "bank for central banks" asked that regulators keep banks in mind when they update and create new financial rules as Facebook and other tech companies enter the payments and custody business.