An Illinois judge has sided with the Commodity Futures Trading Commission in a crypto fraud case, labelling two altcoins, OHM and KLIMA, as commodities.
An Illinois district court judge has sided with the Commodity Futures Trading Commission (CFTC) in a crypto Ponzi case, labeling two lesser-known altcoins as commodities.
The Ponzi scheme involved a man from Oregon, Sam Ikkurty and several of his companies. The scheme defrauded victims by promising “steady returns” of 15% per year from investments in “digital asset commodities.”
These included Bitcoin (BTC) and Ether (ETH) but also Olympus (OHM) and KlimaDAO (KLIMA), which the order says are also qualified as commodities.
