Here’s the letter sent to the US Department of Justice and the Securities and Exchange Commission, and the Department of Labor.
The letter is the latest in a series of letters sent by the FTC, the SEC and the Labor Department.
In its letter, the FTC said that it “does not consider bitcoin a currency, a form of payment, or an investment instrument” and that it does not expect it to be regulated as such.
The FTC also said that bitcoin is not a commodity, but it does expect that “an individual may be able to claim ownership in a bitcoin transaction that may qualify as a ‘tangible asset.'”
The letter says the letter has not yet been issued to any bitcoin firms or individuals, but says that the commission is “evaluating the FTC’s recent correspondence with the SEC regarding bitcoin and whether the Commission can request additional guidance on its guidance on bitcoin.”
“In the future, the Commission will continue to monitor developments in the bitcoin industry and will respond to the advice and recommendations of relevant government and private sector stakeholders.”
The FTC is also taking action against companies like Coinbase, which the agency says is not complying with its regulation of bitcoin and which has reportedly been under federal investigation.
The agency said in a statement:In its letter to the DOJ and the SEC, the agency said that, “Although the FTC has not identified any specific companies that have engaged in or are engaged in activity that would violate its enforcement actions, the Company has engaged in conduct that poses an immediate risk of financial harm, and is subject to regulatory scrutiny.”
The letter does not say how the FTC intends to proceed with the case, but said that if Coinbase fails to comply with its obligations, it may seek injunctive relief to compel the company to comply.
The company has not responded to the letter.
The DOJ has said that its investigation into Coinbase and other digital currencies is ongoing.