Bitcoin becomes official US commodity - CFTC

FXStreet (Mumbai) - The digital currency Bitcoin will be classified as a commodity in the US along with gold and oil, according to the Commodity Futures Trading Commission (CFTC).

The commission announced it had settled charges against a Bitcoin exchange for operating an online business associated with commodity options without registration.

The CFTC press release said, "In this order, the CFTC for the first time finds that Bitcoin and other virtual currencies are properly defined as commodities."