The United States capital city of Washington, D.C., has a long and complicated relationship with the virtual currency trading world. In 2013, the District of Columbia became one of the first jurisdictions in the country to accept Bitcoin as payment for government services. However, things have changed a lot since then, and the district’s relationship with crypto has become much more complicated. bitcoin era login is one of the best platforms for gaining information.
In 2017, the Washington Post reported that federal prosecutors were investigating “whether a senior official in the U.S. Securities and Exchange Commission violated federal law by secretly feeding information about investigations to a lawyer representing major Wall Street banks and hedge funds.” The investigation was looking into whether or not the SEC official had shared nonpublic information about investigations into possible wrongdoing by firms including Goldman Sachs and JPMorgan Chase.
The investigation revealed that the SEC official in question, Stephanie Avakian, had “routinely” shared information with her husband, Stephen Cohen, who is a partner at the law firm of Skadden, Arps, Slate, Meagher & Flom. Cohen’s clients have included some of the biggest names in the financial world, including hedge fund managers Steve A. Cohen (no relation) of SAC Capital Advisors and Raj Rajaratnam of Galleon Group.
It is not clear how exactly the information was used, but it is likely that it helped the firms avoid losses or make profits by trading on inside information.
There is a strong crypto trading connection between Washington and Wall Street, according to a new report.
The research, conducted by the University of Cambridge Centre for Alternative Finance, found that nearly half of all cryptocurrency trading activity in the US takes place between the two regions.
The study also found that the majority of crypto trading activity in the US takes place on major exchanges such as Coinbase, Bitfinex and Kraken.
The report’s authors say that the findings could have implications for regulators trying to crack down on illegal activity in the cryptocurrency space.
“This analysis provides yet more evidence that there is a close link between cryptocurrency trading activity and traditional financial markets,” said lead author Rachel Laundon.
“It also suggests that US exchanges are playing a key role in connecting these two worlds.”
The report comes as the US Securities and Exchange Commission (SEC) is reportedly preparing to crack down on unlawful activity in the cryptocurrency space.
Last month, the SEC launched a wide-ranging probe into potential wrongdoing at dozens of firms involved in the cryptocurrency industry.
The SEC’s actions come amid increasing scrutiny of the cryptocurrency market by US regulators.
In December, the Commodity Futures Trading Commission (CFTC) subpoenaed several major cryptocurrency exchanges over concerns about price manipulation.
And earlier this month, the US Senate held a hearing on cryptocurrencies, during which lawmakers raised concerns about investor protection and fraud in the space.
The U.S. government is taking a closer look at the cryptocurrency trading connection with Washington. The Commodity Futures Trading Commission (CFTC) is reportedly investigating whether there is collusion or other illegal activity taking place between traders in the spot market for virtual currencies and those trading on regulated futures exchanges.
The CFTC has issued subpoenas to four major exchanges-Bitstamp, Coinbase, itBit, and Kraken-in an effort to collect data on order book activity, according to Bloomberg. The agency is also said to be looking into potential manipulation of prices through wash trading, which is when an investor buys and sells an asset simultaneously to create the appearance of artificial activity in the market.
The news comes as the CFTC is set to launch its own digital currency futures exchange, Bakkt, in December. The move is seen as a way to legitimise the nascent asset class and attract more institutional investors.
The investigation is still in its early stages and it’s unclear if any wrongdoing will be uncovered. But it highlights the growing scrutiny of the cryptocurrency market by regulators around the world.