CFTC Authorizes its Employees to Trade Bitcoin
As reported by Bloomberg, CFTC, the chief U.S. commodities regulator, is now allowing its employees to invest in cryptocurrencies. The agency granted this authorization after CFTC employees sent numerous inquiries about investing in cryptocurrencies.
The U.S. Securities and Exchange Commission (SEC) already allows its employees to trade Bitcoin.
However, experts in government ethics remain uncertain about whether CFTC employees should be allowed to trade cryptocurrencies. Some fear that allowing CFTC employees to invest in crypto assets might affect their job-related decisions.
Regarding overseeing Bitcoin trading, CFTC’s jurisdiction is as follows:
The U.S. Commodity Futures Trading Commission’s (CFTC) jurisdiction is implicated when a virtual currency is used in a derivatives contract, or if there is fraud or manipulation involving a virtual currency traded in interstate commerce.
Therefore, to minimize conflicts of interest or even their appearance, CFTC’s ethics guidance states …
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