Bloomberg reports that the Commodity Futures Trading Commission (CFTC) allowed its employees to invest into cryptocurrencies due to a large number of management requests from staff. This permission was made a few weeks after the agency began to monitor the Bitcoin futures.
The commission decided that employees can trade digital tokens, provided they do not buy them on margin and do not use information obtained in the course of carrying out their duties for trade.
The Securities and Exchange Commission (SEC) also authorized its employees to trade bitcoin, following a policy similar to the CFTC
“This is actually mind-boggling that they are allowing investing in this at all,” Angela Walch, an associate professor specializing in digital money and financial stability at the law school of St. Mary’s University pointed out. “It could absolutely skew their regulatory decisions.”
Allowing its employees to trade cryptocurrency, the commission confirms the legitimacy of Bitcoin and its increasing influence on the financial market.