Search Results: Digital Currency

CFTC Fines Bitfinex For Failing To Register and Operating An Illegal Exchange

The U.S. Commodity Futures Trading Commission (CFTC), showing continued regulatory interest in digital currency companies, issued an Order and settled charges against Hong Kong-based digital currency exchange Bitfinex. The CFTC found that Bitfinex was offering illegal off-exchange financed retail commodity transactions in bitcoin and other cryptocurrencies, and failed to register…

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European Union: ESMA Blockchain Regulation

On June 2, 2016, the European Securities and Markets Authority (ESMA) issued a discussion paper seeking feedback from Fintech companies and financial institutions on the possible use of blockchain technology in securities markets, including the potential benefits, challenges and risks involved. The ESMA indicated that the responses will help it…

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CFTC Commissioner Advocates Minimal Regulation of Blockchain Technology, Letting Private Sector Lead

On March 29, 2016, J. Christopher Giancarlo, the Commissioner of the U.S. Commodity Futures Trading Commission, or CFTC, spoke at the Depository Trust and Clearing Corporation 2016 Blockchain Symposium. His speech encouraged regulators to treat the development of blockchain technology like they treated the internet by adopting a “do no harm”…

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Payment Across Apps—and Borders

Digital currencies like Bitcoin seem tailor made for social peer-to-peer payment applications.  Transactions denominated in or convertible to digital currency could be withdrawn and transmitted by users at virtually no cost—only a small transaction fee.  Digital currency can then be converted using a myriad of exchanges, which navigate banking regimes….

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CFTC Takes First Action Against Virtual Currency Options Trading Platform

On Thursday, Sept. 17, 2015, the U.S. Commodity Futures Trading Commission (CFTC) issued an Order against San Francisco-based Coinflip and its chief executive officer, Francisco Riordan, to resolve allegations that Coinflip conducted activity related to commodity options transactions without complying with the Commodity Exchange Act (CEA) and CFTC Regulations. Specifically, the CFTC…

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Digital Currency to the Rescue: Bitcoins as Solution to Greek Capital Controls

This week Cubits.gr and BTCGreece began a partnership aimed at providing a solution to Greek capital controls. Part of that solution entails supporting voucher payments backed by bitcoin and installing one thousand Bitcoin ATMs throughout the country. Cubits, a UK Registered company founded in 2014, is a Bitcoin platform where…

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