Bitcoin falls on reminder that CFTC might regulate it

Section:

Bitcoin Just Had Its Biggest Drop in a Month

By Constantine Courcoulas
Bloomberg News
Wednesday, October 18, 2017

Traders waiting for a pullback in bitcoin’s price to rebuild positions in the world's largest cryptocurrency may have the U.S. Commodity Futures Trading Commission to thank.

In a primer on the asset class published Tuesday, the agency said virtual "tokens" used in initial coin offerings can come under CFTC oversight, a message that a market averse to scrutiny did not take well.

Bitcoin fell as much as 5.9 percent, its biggest loss in almost a month, to as low as $5,247.

The U.S. Securities and Exchange Commission has already said tokens from some ICOs can be securities under its oversight. "There is no inconsistency between the SEC's analysis and the CFTC's determination" from 2015 that virtual currencies are commodities, the CFTC said. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-10-18/bitcoin-dips-most-in-...



ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/



Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2017/07/NOIC2017_powe...

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16