But when it comes to cryptocurrency scams, some government agencies seem to be working at lightning speed, relatively speaking. The U.S. Commodities Future Trading Commission (CFTC), which regulates most currency and derivatives exchanges, recently filed suit against a New York-based company over an alleged Bitcoin Ponzi scam. Gelfman, the CEO and head trader at Gelfman Blueprint, is said to have told investors that he ran a fund that 'employed a high-frequency, algorithmic trading strategy.' Unrelated to the CFTC action was a move by the U.S. Securities and Exchange Commission (SEC) to "combat cyber-based threats and protect retail investors." Note: The Chinese government, stating it was concerned by "investor security, money laundering and funding of terrorist activities," recently banned Bitcoin exchanges.

Source: Forbes September 27, 2017 13:18 UTC