On August 14, 2019, the U.S. District Court for the Northern District of Illinois entered a consent order (the “Consent Order”)—agreed to by the U.S. Commodity Futures Trading Commission (the “CFTC”), Kraft Foods Group Inc. (“Kraft”) and Mondelēz Global LLC (“Mondelēz”)—to resolve long-running market manipulation litigation between the parties.… Continue Reading
Last week, in a denial of a motion to dismiss, a Massachusetts district court ruled that virtual currencies are commodities under the Commodity Exchange Act (the “CEA”) and that therefore the CFTC has authority to prosecute fraud with respect to virtual currencies (see CFTC v. My Big Coin Pay, Inc., No. 18-10077-RWZ, 2018 WL 4621725 … Continue Reading
