[2014-11-19] CFTC: ‘We Have the Authority over Bitcoin Price Manipulation’

[botany]

CFTC: ‘We Have the Authority over Bitcoin Price Manipulation’

http://cointelegraph.com/news/112945/cftc-we-have-the-authority-over-bitcoin-price-manipulation

The struggle between US regulatory agencies about who can act in cases involving Bitcoin continues as the Commodity Futures Trading Commission, an independent United States Federal agency determined that it has enforcement powers against price manipulation in Bitcoin markets.

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[Lethn]

That looks interesting, it seems that they're going to attempt to manipulate the Bitcoin price themselves, this should hurry up a crash if they're actually going to devote resources to controlling it and should be very amusing to watch, I didn't think the U.S government would actually go with this scenario but they're more desperate to protect the image of a stable dollar than I thought.

[cr1776]

Interesting article, but it presumes that they have jurisdiction over the world.  Certainly a market in the US could fall under their jurisdiction.  However, for a market based in many other places that would depend on the law in that country and any relevant treaties between the US and that country.

[Lethn]

Interesting article, but it presumes that they have jurisdiction over the world.  Certainly a market in the US could fall under their jurisdiction.  However, for a market based in many other places that would depend on the law in that country and any relevant treaties between the US and that country.

I can't wait to see them manipulate the dollar price, it will likely mean a complete detachment from the euro and the pound lol