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Food & Wine magazine reported Wednesday. The bottle was so old, auctioneers did not know exactly when it was produced. The label, which was hand-typed and pasted onto the bottle, merely stated “This Bourbon was probably made prior to 1865,” the article said. “A bit of carbon dating of the liquid inside narrowed things down determining with 81.1 percent certainty that it was from 1763 to 1803 and landing the tipple its ‘oldest’ title,” the magazine continued: But for anyone concerned that all this ambiguity might affect the auction value of this bottle of Old Ingledew Whiskey, don’t worry. In an era where a single bottle of Scotch can sell for nearly $2 million, the world’s (probably) oldest whiskey sold just fine more than tripling the pre-auction estimates of between $20,000 and $40,000 and fetching a whopping $137,000. ....
Monday, December 21, 2020 Virtual Currencies as Commodities In recent years, the U.S. Commodity Futures Trading Commission (CFTC or the Commission) has taken a role as one of the regulators of cryptocurrency in the United States. In this article, we review the CFTC’s regulatory and enforcement approach in this space. In December 2014, the CFTC stated that virtual currencies are encompassed under the definition of a “commodity” in the Commodity Exchange Act (CEA), and thus subject to its jurisdiction. [1] Nine months later, in September 2015, the CFTC brought its first enforcement action against an unregistered Bitcoin option trading platform. [2] With its first action, the CFTC declared that “Bitcoin and other virtual currencies are encompassed in the definition and properly defined as commodities.” ....