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Cryptocurrencies

CFTC Commissioner suggests deliberate market manipulation may affect Bitcoin

Friday 9 January 2015 | 01:38 PM CET

Mark Wetjen, a Commodity Futures Trading Commission (CFTC) Commissioner, has claimed that financial market entities may attempt to manipulate the cryptocurrency market in order to gain a favourable position in the Bitcoin derivative business.

As such, Wetjen has argued that CFTF would be responsible for cataloguing these attempts as either legal or illegal, coindesk.com reports.

CFTC, however, does not have extensive oversight over Bitcoin exchanges that do not offer derivatives contracts, such as in cases where market participants buy and sell Bitcoin on an exchange.
 

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