Hogan Lovells Cadwalader is a global law firm trusted by clients to deliver on complex, high-stakes matters.
Operating at the intersection of business, finance, and government, we bring an unwavering commitment to client service and the decisive counsel that helps clients achieve exceptional results.
Consistently recognized for innovation across legal services, we combine sharp judgment with deep commercial perspective and intellectual rigor to address critical, cutting-edge challenges.
With 3,100 lawyers worldwide, we offer global scale with strong local insight in the markets that matter most. Our commitment extends beyond client work through pro bono activities, community investment, and responsible business practices.
The U.S. District Court for the District of Massachusetts ruled that cryptocurrencies fall within the definition of a "commodity" under the Commodity Exchange Act.
within Intellectual Property, International Law, Litigation and Mediation & Arbitration topic(s)
The U.S. District Court for the District of Massachusetts ruled that cryptocurrencies fall within the
definition of a "commodity" under the Commodity Exchange
Act.
In a Motion to Dismiss, defendants argued that an allegedly
fraudulent cryptocurrency, My Big Coin, is not a
"commodity" since it does not deal in "contracts for
future delivery" and thus is not within the CFTC's
jurisdiction over commodities. The plaintiff responded that there
is future trading in cryptocurrencies and, as a result, My Big Coin
falls under CFTC jurisdiction.
The Court denied the Motion to Dismiss and held that Congress
defines a commodity by focusing on categories (e.g.,
cryptocurrency), not specific items (e.g., My Big Coin).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
