[2016-06-02] CFTC fines bitcoin exchange Bitfinex $75,000 for illegal TX's

[BitcoinXio]

Hong Kong based bitcoin exchange Bitfinex was levied a fine today by the United States Commodity Futures Trading Commission (CFTC) for offering illegal off-exchange financed retail commodity transactions in bitcoin and other cryptocurrencies, and for failing to register as a Futures Commission Merchant (FCM) as required by the Commodity Exchange Act (CEA). The order requires Bitfinex to pay a $75,000 USD civil monetary penalty and to cease and desist from future such violations of the CEA.

Read more: http://bitcoinx.io/news/articles/cftc-fines-bitcoin-exchange-bitfinex-75000-for-illegal-off-exchange-financial-transactions/

[1714680000]

1714680000

[1714680000]

1714680000

[1714680000]

1714680000

[Carlton Banks]

I hope they don't pay (despite their compliant sounding press release ). The CFTC seem to think their jurisdiction is valid outside of their domain... which is actually an implication that they and other US federal agencies consider the entire world to be their domain. They can fuck off with this BS, quite frankly. I'll be replying in the style of Mircea Popescu to any such illegitimate demands from these ne'er do-wells that call themselves the US state.

[BitcoinXio]

I hope they don't pay (despite their compliant sounding press release ). The CFTC seem to think their jurisdiction is valid outside of their domain... which is actually an implication that they and other US federal agencies consider the entire world to be their domain. They can fuck off with this BS, quite frankly. I'll be replying in the style of Mircea Popescu to any such illegitimate demands from these ne'er do-wells that call themselves the US state.

Can't agree enough on this!