ChainCatcher reported that according to The Block, a district judge in Illinois, USA, supported the U.S. Commodity Futures Trading Commission (CFTC) and ordered an Oregon man and his company to pay more than $120 million, part of which was used to compensate victims in what the agency called a "Ponzi scheme."
U.S. District Court Judge Mary Rowland of the Northern District of Illinois said in an opinion issued Monday that Oregon’s Sam Ikkurty and his company, Jafia, LLC, made material misrepresentations, but the opinion was issued Wednesday by the CFTC. The CFTC said Ikkurty and his company failed to register and engaged in fraudulent conduct.
Notably, Judge Rowland also noted in his order that the cryptocurrencies OHM and Klima are commodities.
The CFTC said in a statement that the order not only finds that Bitcoin and Ethereum are commodities within the CFTC’s jurisdiction, but also that OHM and Klima, two non-Bitcoin virtual currencies, also meet the definition of commodities, noting that these virtual currencies fall into the same category as Bitcoin and have regulated futures trading.
