U.S. agency asks judge to rule virtual currency is commodity

The U.S. Commodity Futures Trading Commission on Thursday urged a federal judge to conclude that an obscure virtual currency called My Big Coin is a commodity subject to its oversight, saying it is no different than precious metals like gold.U.S. Judge Rya Zobel in Boston questioned a CFTC lawyer about the extent the regulator had jurisdiction to pursue a lawsuit against the operators of what it contends was a $6 million virtual currency fraud scheme.Jonah McCarthy, the CFTC attorney, compared t