Commodity Futures Trading Commission Allows Employees to Trade in Cryptocurrencies

The Commodity Futures Trading Commission (CFTC) has permitted its employees to invest in cryptocurrencies. This decision came weeks after the commodity watchdog took the responsibility of overseeing the Bitcoin futures market.

However, any investment in Bitcoin futures that the CFTC policies, along with the buying and selling on margins, are prohibited because of the regulator’s ethics guidelines.

This decision was taken after the ethics office of the CFTC received numerous queries from its staff asking about the legality and the morality of involvement in such trading practices.

The CFTC only regulates the futures contracts derived from the commodity market, not the market itself. The agency sees Bitcoin and other cryptocurrencies as commodities, and so any investment on them not involving futures is considered legal.

“The chairman has made it clear that staff members who own Bitcoin should not participate in matters related to Bitcoin, as it presents a conflict of interest" said Erica Richardson from CFTC.

Source: Finance Magnates

Trader Bozhidar Arabadzhiev

Original post: The CFTC Allows Employees to Trade in Cryptocurrencies

Read more:

• And for all the bounty hunters: Iran offers $80m for the head of Donald Trump
• US service member and 2 US Defense Dept contractors killed in Kenya attack
• Iranian Quds leader Qasem Soleimani has been killed – how are markets reacting
• A calm end of an otherwise loud 2019
• Old but Gold – Top 5 posts of Varchev Finance