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Title: Digital Currency Exchange Bitfinex to Pay 75k Fine to CFTC Post by: traderman on June 02, 2016, 10:10:19 PM http://themerkle.com/cftc-hits-digital-currency-exchange-bitfinex-with-75k-fine/
I wonder which other margin trading exchanges get hit next? Title: Re: Digital Currency Exchange Bitfinex to Pay 75k Fine to CFTC Post by: Meuh6879 on June 02, 2016, 10:16:44 PM if you want to convert the world, you must be in america ... yes, no ?
http://imagizer.imageshack.us/a/img903/3082/qmaYMr.jpg Title: Re: Digital Currency Exchange Bitfinex to Pay 75k Fine to CFTC Post by: countryfree on June 02, 2016, 10:42:20 PM I've one article about it and I'm not sure I understand what's going on. If I got it right, Bifinex was fined because it didn't actually send its customers the BTC they've just got from its service, and kept it on a wallet it controlled. But there was no theft. The customers were still able to access their BTC via the Bitfinex interface?
Please, anyone correct me if I'm wrong. Title: Re: Digital Currency Exchange Bitfinex to Pay 75k Fine to CFTC Post by: Soros Shorts on June 02, 2016, 11:57:53 PM I've one article about it and I'm not sure I understand what's going on. If I got it right, Bifinex was fined because it didn't actually send its customers the BTC they've just got from its service, and kept it on a wallet it controlled. But there was no theft. The customers were still able to access their BTC via the Bitfinex interface? Please, anyone correct me if I'm wrong. Basically correct. To make it legal in the US the coins should have been sent to a separate entity, a custodian or prime broker who will hold them on behalf of the customer, instead being held under the control of Bitfinex. Title: Re: Digital Currency Exchange Bitfinex to Pay 75k Fine to CFTC Post by: countryfree on June 03, 2016, 10:41:40 PM I've one article about it and I'm not sure I understand what's going on. If I got it right, Bifinex was fined because it didn't actually send its customers the BTC they've just got from its service, and kept it on a wallet it controlled. But there was no theft. The customers were still able to access their BTC via the Bitfinex interface? Please, anyone correct me if I'm wrong. Basically correct. To make it legal in the US the coins should have been sent to a separate entity, a custodian or prime broker who will hold them on behalf of the customer, instead being held under the control of Bitfinex. OK, thanks. So it's a very big fine considering no customer had suffered a loss or a theft. It's a big warning to the others, and maybe a reason not to do business in the US. Title: Re: Digital Currency Exchange Bitfinex to Pay 75k Fine to CFTC Post by: mkc on June 04, 2016, 04:30:18 AM Don't get it, Bitfinex is a Hong Kong company, why it has to be fined by US?
No wonder some exchange will not take customers from USA. Title: Re: Digital Currency Exchange Bitfinex to Pay 75k Fine to CFTC Post by: Bitcoinpro on June 04, 2016, 06:18:21 AM I've one article about it and I'm not sure I understand what's going on. If I got it right, Bifinex was fined because it didn't actually send its customers the BTC they've just got from its service, and kept it on a wallet it controlled. But there was no theft. The customers were still able to access their BTC via the Bitfinex interface? Please, anyone correct me if I'm wrong. Basically correct. To make it legal in the US the coins should have been sent to a separate entity, a custodian or prime broker who will hold them on behalf of the customer, instead being held under the control of Bitfinex. U mean until the future's contract expired It really sounds like Bifenex pay CTFC x amount to keep ur US customers, Bitcoin produces the most shadiest of extortion attempts I'll read thru some of the news stories after s cuppa |
