Washington — Bitcoin’s meteoric rise has moved it out of the shadows of finance. The latest sign that its becoming part of the mainstream came on Friday when a key US agency proposed that trading be regulated much like other commodities. Specifically, the US commodity futures trading commission (CFTC) made clear to market participants that there could be penalties if they can’t show buyers can take physical control of purchased digital coins in 28 days — a framework that already applies to wheat, oil and gold. The long-existing rules that require traders and exchanges to be able to deliver physical commodities has sowed some confusion for bitcoin because it’s an asset class that exists only in cyberspace. What makes the issue even more complicated is that many investors are amplifying their bets with margin, or borrowed money.
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