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   615

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.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   82

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.