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CFTC launches virtual currency resource web page

First Published 18th December 2017

Washington, DC - The Commodity Futures Trading Commission (CFTC) has launched a virtual currency resource Web page, cftc.gov/bitcoin. The dedicated page is a central repository for Commission-produced resources about virtual currency, and aims to educate and inform the public about these commodities, including the possible risks associated with investing or speculating in virtual currencies or recently launched Bitcoin futures and options.

The newly launched Web page provides access to the CFTC's virtual currency primer; CFTCTalks podcast episode featuring CFTC staff discussing virtual currencies; LabCFTC, the Commission's FinTech effort; and a fact sheet explaining the CFTC's role in oversight of virtual currencies.

Additionally, the CFTC has released a Customer Advisory, titled "Understand the Risks of Virtual Currency Trading." This advisory details the risks of purchasing virtual currencies in the cash market, in addition to those risks present in virtual currency futures and options.

The CFTC's Jurisdiction and Virtual Currencies

Bitcoin and other virtual currencies have been determined to be commodities under the Commodity Exchange Act (CEA). The Commission primarily regulates commodity derivatives contracts that are based on underlying commodities. While its regulatory oversight authority over commodity cash markets is limited, the CFTC maintains general anti-fraud and manipulation enforcement authority over virtual currency cash markets as a commodity in interstate commerce.