US Politicians Face Dilemma on How to Handle Bitcoin Futures Trading

Politicians in the US were caught unprepared for the sudden and sustained popularity of cryptocurrencies, particularly the leading virtual currency Bitcoin, and are already scrambling with the choices on how to effectively regulate them.

This situation is exacerbated by the move by the US Commodity Futures Trading Commission (CFTC) to authorize the trading of Bitcoin futures products on the NASDAQ stock exchange starting 2018.

The unexpected move by the CFTC has left the politicians in a dilemma on how to handle the issue. Will they pass a law that will void the authorization issued by the CFTC? Will they amend the federal and state laws to approve or prohibit the trading of Bitcoin futures products? Or will they pass a bill that establishes a tax system for Bitcoin futures trading? […]

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