WSJ: The Case for Bringing CFTC Regulation to Bitcoin
Like all emergent fields of commerce, where comes trade so comes fraud. Digital currency represents yet another daunting area of understanding and enforcement for government regulators such as the CFTC, as well as consumers. There is significant risk of fraud in the world of virtual currency and a need for whistleblowers to report schemes to take advantage of the inevitable asymmetry between the industry and those policing it.
— Shayne Stevenson
"More than 5,000 people across the globe recently logged on for the webcast of a Commodity Futures Trading Commission (CFTC) public meeting—not a significant number by Internet cat-video standards, but by far the largest online audience that one of our meetings had ever attracted. Viewers in Guangzhou, China, outnumbered those in Washington, D.C. What drew them? The CFTC’s Global Markets Advisory Committee on Oct. 9 was discussing virtual currencies, Bitcoin in particular." Full article »
