The CFTC determined to stake a claim for a regulation of the cryptocurrency


The CFTC determined to stake a claim for a regulation of the cryptocurrency

Trade Commission commodity futures U.S. (CFTC), it seems, first from U.S. government agencies decided on their attitude towards cryptocurrencies and eager to regulate them.

Hash#Telegraph has already reported on perepetui a lawsuit against startup My Big Coin Pay Inc., offering investors a cryptocurrency with a similar name. The court listened to the arguments of the CFTC, recognizing the controversial coin within the jurisdiction of the Commission.

The bitcoin what is My Big Coin is a cryptocurrency, so they have more similarities than differences. And if bitcoin futures which are traded on U.S. exchanges falls under the jurisdiction of the Commission, means, and cryptocurrency in General should be attributed to its competence — about this logic motivated the judge, RYA Zobel.

It seems that most of this decision was delighted at the CFTC, even releasing a separate statement on the matter. In the Commission argues that this is not the first case where the judge took this position.

The document contains also the words of one of the leaders of the Commission, James McDonald, who called the decision very important. “This decision recognises the broad definition of the term commodity, and the powers СFTC for combating fraud in the field of commodities, including cryptocurrency”.

MacDonald also promised that the Commission together with other state agencies will continue to restore order in this market, however, this part of the statement can hide some pitfalls. At the end of September, when it became aware of the verdict of judge Zobel, the lawyers questioned the validity of such a decision.

Moreover, investigations in one way or another related to the cryptocurrency, many structures. The security forces there much to do with what cryptocurrencies are and what their legal status — they are primarily to track transactions associated with criminal activities, like trafficking in drugs, weapons, etc. And, as they themselves say, achieve considerable success.

However, there is another Commission at the securities and exchange Commission (SEC), in recent times, maintaining a significant pause.

However, its position is unlikely to have changed too much since the summer — then head of the SEC, Jay Clayton stated that bitcoin and ether, apparently, are not securities, but about other cryptocurrencies and especially token-ICO still have to think about. Moreover, there is a court decision recognizing the token-ICO securities that is within the competence of the SEC.

In addition, if we talk about the regulators, there is also the regulatory authority financial industry (FINRA) responsible for oversight of the brokers, as the SEC for the protection of investors. As the CFTC or for the protection of investors, but institutional.

FINRA is not yet expressed any position regarding cryptocurrencies. However recommends companies to inform her of any transactions with cryptocurrencies — how about the already committed and planned.

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