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RE: Bitfinex Fined - What Does This Mean for Crypto?
This was a shakedown by the CFTC. The CFTC "decided" that bitcoin was a commodity and that it falls under their jurisdiction.
I asked Bitfinex on reddit about what specific changes were made here: https://www.reddit.com/r/Bitcoin/comments/4m8tfs/cftc_orders_bitcoin_exchange_bitfinex_to_pay/d3ts39e
This was Bitfinex's reply: https://www.reddit.com/r/Bitcoin/comments/4m8tfs/cftc_orders_bitcoin_exchange_bitfinex_to_pay/d3tsgik
Go figure!
Maybe they're keeping it to themselves as trade secret, as the experience gives them a competitive advantage.
Wow. Total shakedown.
Yeah, I mean totally...
If they combine that 75,000 with the 175 million they got in one other action...wow, that is a ton of money.
http://www.cftc.gov/PressRoom/PressReleases/pr7372-16
Or the largest one against Barclays
$453 million
Hmmm, I think shakedown was what Barclays paid
$453 million