In an article published in Futures and Derivatives Law
Report, Petal P. Walker discusses the blurry line between a
virtual currency and an investment contract. Read the full publication.
Excerpt: Can a digital coin be a security one
day under the oversight of the Securities and Exchange Commission
(SEC), and a commodity the next under the oversight of the
Commodity Futures Trading Commission (CFTC), or vice versa? And
importantly, can a coin move from one jurisdiction to another
without carrying forward lingering baggage from its previous
jurisdiction? Though the line between the CFTC's and the
SEC's jurisdictions over digital coins can be blurry, given the
current state of CFTC and SEC oversight, it is possible for a
digital coin to move between jurisdictions. In the following, I
discuss: (1) the characteristics of digital coins that are defined
as securities; (2) the characteristics of digital coins that are
defined as commodities; and (3) and how a digital coin
