[2016-06-02] CFTC fines bitcoin exchange Bitfinex $75,000 for illegal off-exchange financial transactions

[BitcoinXio]

Hong Kong based bitcoin exchange Bitfinex was levied a fine today by the United States Commodity Futures Trading Commission (CFTC) for offering illegal off-exchange financed retail commodity transactions in bitcoin and other cryptocurrencies, and for failing to register as a Futures Commission Merchant (FCM) as required by the Commodity Exchange Act (CEA). The order requires Bitfinex to pay a $75,000 USD civil monetary penalty and to cease and desist from future such violations of the CEA.

Read more: http://bitcoinx.io/news/articles/cftc-f ... nsactions/

[rogerver]

I'm looking forward to bitcoin stripping away all of the CFTC's power to threaten others with violence.
If people want to use Bitfinex, it's none of the CTFC's businesses.