CFTC lifted crypto trade ban for its employees

A set of guidelines has been issued within the commission for the workers to trade cryptocurrency
28 February 2018   421

Commodity regulator has issued ethic guidance for the employees regarding their participation in trading virtual currency. The guidance states that as long as the purchase is not on margin, not based on any inside information and not investing in Bitcoin futures the workers are free to trade. The total number of those of the staff who holds any cryptocurrency asset is unknown, but the office received numerous inquiries about the regulator's approval on such actions. Another reason that the agency doesn't want its personnel currently involved in any sort of investigation or regulation process to invest into those cryptocurrencies.

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.


Erica Richardson

Spokeswoman for CFTC Chairman J. Christopher Giancarlo

The commission treats digital currency as a commodity and thus it can be traded like any other traditional commodity. Another US commission - SEC, also allows its employees to trade cryptocurrency, also has guidelines for investments. But due to the nature of regulating, those guidelines concern only the participation in ICOs. This CFTC's step is along the line of its policy of integrating foresight into the crypto domain: late last year the regulator allowed 2 major US-based exchanges to trade Bitcoin futures, and in early February 2018 US Senate greenlit cryptocurrencies.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   98

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.