US Judge Rules Cryptocurrencies are Commodities

U.S. District Judge Jack Weinstein in Brooklyn ruled that the Commodity Futures Trading Commission (CFTC) has standing to regulate cryptocurrencies as commodities. The financial watchdog first determined that virtual currencies are commodities in 2015.
Cryptocurrencies are commodities
The ruling gives the CFTC the needed authority to bring a fraud lawsuit against Patrick McDonnell, a New York resident charged with cryptocurrency fraud scheme along with his company Coin Drop Market