US CFTC and CryptoCurrency
The US Commodity Futures Trading Commission (CFTC) is allowing its employees to trade in Crypto Currency. But there are certain restrictions.
- Employees can not trade in margin
- They can not take advantage of insider information to trade and profit
- Employees can not trade in crypto futures
In 2014 CFTC determined that cryptocurrencies were also commodities. So CFTC has direct oversight over crypt currency trading. The first cryptocurrency futures market was launched in Chicago through CBOE and CME.
Crypto exchanges are monitored at the state level. The exchanges fall under the money transmitter laws.
