The showdown between the CFTC and My Big Coin Pay is a legal nerd’s dream. There are discussions of legislative history going back to the Futures Trading Act of 1921, discussions of legislative intent, case law and an agency’s own “speaking orders” interpreting its statutes and regulations, and finally, grammar. Even better, it’s all in the context of the complicated regulatory regime for virtual currencies or cryptocurrencies. Could the determination of whether the CFTC has jurisdiction over virtual currencies really rest on the placement of a comma?
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