While politics continues over the ongoing government shutdown in the United States, one federal agency is continuing to keep a sharp eye on the trading of cryptocurrencies. Prices of bitcoin and other virtual currencies, which had been on a losing streak through most of last week, recouped some of their losses following the government shutdown Friday.

The Commodity Futures Trading Commission said in a statement Friday: “One component of the agency’s mission is to oversee orderly derivatives markets and to police those markets to ensure they are free of fraud and manipulation. In the event of a shutdown, the agency will have ‘excepted’ staff in place who will continue to perform this function across the derivatives markets — including the virtual currency derivatives market,” Bloomberg reported.

Bitcoin was trading below the $10,000 mark at the beginning of Thursday, having fallen from over $14,000 on the morning of Jan. 15. With the government shutdown looming, the price went up to a high of almost $12,000 on Thursday, and once the shutdown was confirmed, it touched a high of almost $12,900 Saturday night.

Read more

Related Articles