The U.S. Commodity Futures Trading Commission (CFTC) officially gave employees the green light to trade cryoptocurrencies in a memo sent out earliuer this month.
While CFTC employees are free to trade in cryptocurrencies, they are prohibited from trading crypto futures and cryoptio margin trading.
CFTC’s general counsel Daniel Davis detailed in the memo that emplyeesmust trade crypto ethically, writing,
“In this environment, the situation is ripe for the public to question the personal ethics of employees engaging in cryptocurrency transactions. Please keep in mind that you must endeavor to avoid any actions creating the appearance that you are violating the law or government and commission ethical standards.”
However several legal experts have come out as confused by the decisiln. Angela Walch, an associate law professor who specializes in digital money and financial stability at St. Mary’s University, called the decision to allow employees the ability to trade cryptocurrencies “mind-boggling,” saying the move “could absolutely skew their regulatory decisions.”