CFTC Employees Allowed to Trade Cryptocurrency
March 1, 2018
The Commodity Futures Trading Commission (CFTC) granted its employees permission for investing into cryptocurrencies, as Bloomberg reports.
According to the agency, Daniel Davis, the CFTC's general counsel, has signed corresponding office memo in response to numerous CFTC employees’ claims for crypto trading.
From that moment on all Commission’s employees may invest into crypto and trade it yet margin trading or using insider insights is forbidden.
J. Christopher Giancarlo, a spokesperson for the head of CFTC, has claimed, taking part in adopting cryptocurrency regulation policy is also prohibited for the company members to avoid clash of interests.
Davis was also reported to demand complying with ethic standards while trading and not taking actions which can be regarded as violation of law or of the Commission’s ethic standards.
This decision, however, was not welcomed by some experts. Bloomberg made reference to Angela Walch, an associate law professor from St. Mary's University, who called the measure overwhelming and noted, it may affect the Commission’s impartiality when initiating regulatory provisions.