CFTC Regulatory Butt Thunder Continues

As Bitcoin continues marching towards its grandiose destiny, it seems we just can’t get enough of the inept US Butt Thunder striking yet another fool boy and his pale imitation of a domestic commodity exchange.

The latest CFTC press release states:

Today the U.S. Commodity Futures Trading Commission (CFTC), issued an Order filing and simultaneously settling charges against Coinflip, Inc. d/b/a Derivabit (Coinflip) and its chief executive officer Francisco Riordan for conducting activity related to commodity options transactions without complying with the Commodity Exchange Act (CEA) and CFTC Regulations. Coinflip is based in San Francisco, California, and Riordan resides in San Francisco.

The Order finds that, from in or about March 2014 to at least August 2014, Coinflip and Riordan operated an online facility named Derivabit, offering to connect buyers and sellers of Bitcoin option contracts.

Such procedure is also to yet again be put in contrast with Bitcoin’s most resilient financial institution MPEx, and its legendary supremacy over regulator bodies related to the the various pretend United States regulator regimes. It seems to be an endless joke as the CFTC and other inept bodies of the United States Government continue issuing thunderous farts proclaiming all kinds of authority in and around Bitcoin which they completely lack in reality. Further this latest attempted statal incursion upon the Bitcoin space by the Commodity and Futures Trading Commision has MPEx operator Mircea Popescu consider the reopening of the options market on MPEx.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>