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   97

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.

20 % of University Students gain Cryptocurrency with Aid

The Student Loan Report along with Pollfish interviewed 1,000 university students with related loan debt
23 March 2018   157

It took them for 4 days to collect the data (from March, 16 till March, 20 of this year). All the participants were to ask the following question: Have you ever use student loan money to invest in cryptocurrencies like bitcoin?

The results were remarkable. The poll revealed that 21,2  % of current students with the loan debt have used aid money in order to fund a cryptocurrency investment. So, over one-fifth answered in the affirmative.

Drew Cloud, the leader of the Student Loan Report, clarified that the younger Americans are more active investors as they are rather optimistic about cryptocurrency. Therefore the students want to get involved in this subject in any way possible. Drew Cloud sincerely thought the percentage would be lower. He considers that any college student's budget is thin and limited, therefore some extra money may be used on rest, groceries, or books.

The Student Loan Report approved: student loan debtors would be to pull off such a manipulation as they are given their remaining loans to be used on “living expenses”. From time to time they borrow more than they end up needing for studies. College debtors`spending of the money is not officially tracked and this allows the leftover means to be spent in the way preferred by the student. Another important factor is loan debt payments often do not occur until after graduation, and generally 6 months after.

Mr. Cloud claimed that cryptocurrency was the most prevalent investment of 2017. The young Americans consider that digital money is a savvy way to spend their refund checks. Some students even suggest that they would be able to quickly pay their debts off (because “not long ago every virtual currency was experiencing seemingly unstoppable growth”).

A significant shortcoming from the survey are data concerning how much the average student of the university spent of their financial aid on cryptocurrency. It also would have been interesting to know what types of digital means students favoured.