Trade Commission commodity futures U.S. (CFTC) began an investigation connected with sharp decrease in quotations of the prices on Etherеum, which was observed on 21 June at the exchange GDAX, writes Cryptocoinsnews.
The CFTC asked Coinbase, which owns GDAX, to provide information about the failure on 21 June, which led to the fact that the price of the air decreased from $317,81 to 10 cents a millisecond before rebounding to previous levels.
The financial regulator is interested in, involved in the incident, margin trading, using which a large trader can use the borrowed funds to accommodate the volumetric rates at high risk in the future value of the asset.
It is likely that the collapse was caused by a transaction in the amount of $12.5 million, which caused the panic of other traders and auto trading bots on the sale of ether.
Coinbase commented to Bloomberg that offset the losses for traders who are affected by the sudden collapse of the course, and “is cooperating fully with regulators”, but “did not know about the formal investigation.”
In recent months, U.S. regulators have begun to pay more attention to the events in cryptocurrency markets. A former member of the CFTC Bart Chilton (Bart Chilton) recently wrote an article in which he stated that, in his opinion, the Agency should be given the right to investigate the volatility of the cryptocurrency markets. “There is no doubt that the cryptocurrency markets are regulated, and I would investigate the sharp price changes that we saw” – he wrote.
As reported, the Commission on securities and stock market, the United States creates the Department for the fight against fraud on ICO.
At the same time, the US Federal reserve is considering the possibility of licensing cryptocurrency exchanges.
See also: Goldman Sachs is preparing the launch of trade bitcoins