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Bitcoin Determined to Be a Commodity By Regulator

The Commodity Futures Trading Commission has determined that virtual money is a commodity  that can be regulated, Bloomberg's Luke Kawa reports. That determination was made as part of the CFTC settling charges against a Bitcoin exchange for facilitating the trading of options contracts.

That means that a company that wants to operate a trading platform for Bitcoin derivatives or futures must register as a swap execution facility or designated contract market, Kawa reports.