CFTC allowed its employees to invest in cryptocurrencies

CFTC allowed its employees to invest in cryptocurrencies

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The chief regulator of the US commodity exchange officially authorized its employees to invest in cryptocurrencies, such as Bitcoin or Ethereum. This is written by Bloomberg.

According to the Commodity Futures Trading Comission (CFTC), employees of an organization can trade cryptocurrencies if they do not use leverage or insider information that they can have access to. Invest in bitcoin futures, supervised by the CFTC, they are still prohibited.

Although it is not clear what percentage of the agency’s employees are interested in crypto-investment, CFTC General Counsel Daniel Davis explained that the announcement was made in response to “numerous requests” about the permissibility of this type of activity.

Davis said that since the agency considers digital tokens as exchange commodities, its employees can trade them like any other exchange commodities. However, if the employee is aware of the ongoing investigation or the preparation of new regulatory requirements for this market, which may affect the course of the cryptocurrency, it should refrain from participating in trading.

Recall that in the middle of the month the CFTC issued a warning to investors about the “pump-and-dump” schemes in the cryptocurrency market.

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