Did CFTC Regulations Prevent Bitfinex From Offering Cold Storage?
On June 2, the U.S. Commodity Futures Trading Commission (CFTC) fined Bitfinex US$75,000 for handling illegal off-exchange financial retail commodity transactions without registering as a futures commission merchant.
The CFTC – alongside other regulators – required the exchange to deliver the digital currency directly to their users, instead of holding the private keys controlling the traded coins.
The official order stated that Bitfinex “did not actually deliver bitcoins purchased on a leveraged, margined, or financial basis to the traders who purchased them,” violating the regulations of CFTC established for commission merchants and commodity transactions.
READ MORE >>> www.newsbtc.com/2016/08/03/cftc-regulations-prevent-bitfinex-offering-cold-storage/
Topic: [2016-08-03] newsbtc.com-Did CFTC Regulations Prevent Bitfinex From Offering... (Read 247 times)
August 03, 2016, 06:49:19 PM
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