A New York Federal Judge ruled yesterday that the Commodity Futures Trading Commission (CFTC) ) can regulate cryptocurrencies such as Bitcoin. CNBC

Tuesday's decision by District Judge Jack Weinstein was based on the CFTC's 2015 decision that cryptocurrencies are equivalent to goods. CNBC reports that Judge Weinstein noted that the CFTC had "a wide margin of maneuver" in applying federal product regulations.

Judge Weinstein's decision allows the fraud, which began in January of this year, to continue between the CFTC and New York resident Patrick McDonnell and his company Coin Drop Markets

The CFTC claims that customers who paid McDonnell and Coin Drop for cryptography advice did not receive this notice and that McDonnell closed down. Coin Drop website and did not respond to customers. The lawsuit also notes that Coin Drop was not registered with the CFTC

The addition by Weinstein of a preliminary injunction on March 7 against McDowell and his company has currently stopped the One or the other of the two transactions on the participating goods.

Since the United States currently has no single regulator that oversees the regulation of cryptocurrency, US regulators have long wondered whether it is more fair than ever before. align virtual currencies on commodities or securities. the United States Securities and Exchange Commission (SEC) took action against Initial Coin Offeringings (ICO), regulating them as securities, while the TCTC's approval in July 2017 of Bitcoin futures means that they regard cryptocurrencies as commodities. between the CFTC and the SEC on their roles in the cryptocurrency sphere early last month showed that both are willing to work together to create a crypto regulatory framework.