$BTC

What is Bitcoin?

Bitcoin is a convertible virtual currency. Virtual

currency is a digital representation of value that

functions as a medium of exchange, a unit of account,

and/or a store of value.

Is Bitcoin a commodity?

Yes, virtual currencies, such as Bitcoin, have been

determined to be commodities under the Commodity

Exchange Act (CEA).

Does the CFTC oversee Bitcoin?

The U.S. Commodity Futures Trading Commission’s

(CFTC) jurisdiction is implicated when a virtual

currency is used in a derivatives contract, or if there

is fraud or manipulation involving a virtual currency

traded in interstate commerce.