CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as Commodit

[sirty143]

CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as Commodities

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Kucoin, emphasizing the classification of bitcoin, ethereum, and litecoin as commodities. The enforcement action, launched in the U.S. District Court for the Southern District of New York... See more for yourself here.

Your opinion is greatly appreciated.

[Zed0X]

The other day it was about failure to comply with anti-money laundering measures, now it's about offering commodities trading to US citizens without the necessary permit/license. Settlements for all these lawsuits are going to hurt Kucoin's pockets but they will probably survive as well. Someone will have to step down like what CZ did before.