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11
September2018

The USA equates bitcoin with oil, wheat and gold futures

The USA equates bitcoin with oil, wheat and gold futures

The U.S. Commodity Futures Trading Commission (CFTC) has equated bitcoin with oil, wheat and gold futures, according to Fortune.

Therefore, market participants will have to show their financial solvency, namely to prove that they are able to pay for goods and services in bitcoins within 28 days. If their accounts do not have sufficient funds, they will face a fine.

The CFTC mentioned an incident with the Bitfinex exchange that did not transfer bitcoins to customers. As the result, it was slapped with a $75 000 fine.

 

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