Tagged: cftc

CFTC Penalizes bZeroX and Founders, Targets Ooki DAO as “Unincorporated Association,” One Commissioner Dissents

The Commodity Futures Trading Commission (CFTC) has filed and settled charges against bZeroX and founders Tom Bean and Kyle Kistner. The CFTC alleges that respondents illegally offered leveraged and margined retail commodity transactions in digital assets. The CFTC states that the activity can only be… Read More

Brother of Former Coinbase Product Manager Admits to Wire Fraud in Plot to Commit Insider Trading as SEC Pushes All Crypto Assets are Securities Opinion

On Monday, the US Department of Justice announced it had received a guilty plea from the “first-ever cryptocurrency insider trading case.” Originally covered this past July, the Securities and Exchange Commission (SEC) simultaneously filed insider trading charges along with the U.S. Attorney’s Office for the… Read More

SEC Chairman Gary Gensler Sings the Same Song on Crypto Regulation: Everything is a Security (Pretty Much)

SEC Chairman Gary Gensler continues to assert that pretty much all digital assets are securities and should be regulated as such. As part of the SEC Speaks series, Chair Gensler said that of the approximately 10,000 “tokens” he believes they are securities and the few… Read More

Solid Move: FTX US Derivatives, Adds Former CFTC Commissioner to Board of Directors

FTX US Derivatives has added former CFTC Commissioner Jill Sommers to the Company’s Board of Directors. FTX US Derivatives previously operated as LedgerX, which was acquired by the company in 2021. Regulated by the CFTC, the company provides a digital currency futures and options exchange… Read More

CFTC Charges Individual, His Parents and His Firm in $12 Million Digital Asset Ploy

The Commodity Futures Trading Commission (CFTC) has filed charges against Rathnakishore Giri and his firms, NBD Eidetic Capital, LLC and SR Private Equity, LLC, alleging digital asset trading ploy that pilfered $12 million from unsuspecting investors. The CFTC also filed charges against Giri’s parents, Giri Subramani and… Read More

Lolli Co-Founder Says New Crypto Legislation May Create Innovation Friendly Federal Oversight

Earlier this week, it was reported that a bipartisan group of US Senators had developed legislation aimed at providing greater regulatory clarity regarding crypto in the US. Senators from the Senate Agriculture Committee joined to craft a bill that gave the Commodity Futures Trading Commission… Read More

CFTC Commissioners Welcome Bipartisan Digital Asset Legislation

Yesterday, a bipartisan group of US Senators announced legislation designed to give certain digital assets better regulatory clarity. Senators Debbie Stabenow, Chairwoman of the Senate Committee on Agriculture and John Boozman, Ranking Member, along with Senators Cory Booker and John Thune, have joined to craft the language of… Read More

US Senators Introduce Bi-Partisan Digital Commodities Consumer Protection Act

Several US Senators, all members of the Senate Committee on Agriculture, have introduced new bi-partisan legislation targeting the digital asset sector. U.S. Senators Debbie Stabenow, Chairwoman of the Senate Committee and John Boozman, Ranking Member, along with Senators Cory Booker and John Thune have introduced the Digital… Read More

CFTC Chair Announces Reorganization of LabCFTC Creating the Office of Technology Innovation

Commodity Futures Trading Commission Chairman Rostin Behnam announced a reorganization of Fintech and customer protection efforts and “changes to key roles as the agency evolves to address changing markets and market demographics.” Chairman Behnam is “bolstering the agency’s Fintech efforts by creating the Office of… Read More

CFTC Chairman Rostin Behnam on Crypto: “Existing ambiguities force hard decisions at the CFTC”

As part of a virtual presentation today hosted by the Brookings Institution, CFTC Chairman Rostin Behnam delivered a speech addressing crypto regulation. As any follower of the digital asset sector will understand, regulation of crypto remains a bit opaque After a round-up of the developing… Read More

Two CFTC Commissioners Comment on Coinbase Insider Trading News

Last week, the  Securities and Exchange Commission filed a lawsuit against the perpetrators of an alleged insider trading scam utilizing privileged information from Coinbase. A former Coinbase manager, along with two co-conspirators, have been charged as well. The former Coinbase manager, Ishan Wahi, his brother… Read More

CFTC Comments on Consent Order Regarding Digital Asset Pump and Dump Plot that Involved John David McAfee

The Commodity Futures Trading Commission (CTFC) has issued a statement regarding U. S. District Court for the Southern District of New York entering a consent order on for a permanent injunction, monetary sanctions, and disgorgement of ill-gotten proceeds against Jimmy Gale Watson of Dallas, Texas…. Read More

IOSCO – BIS Publishes Guidance on Stablecoins

IOSCO or the International Organization of Securities Commissions and the Bank for International Settlements (BIS) – Committee on Payments and Market Infrastructures (CPMI) have published final guidance on stablecoins. The guidance follows a proposal for consultation in 2021. The publication is called a “major step… Read More

$1.7 Billion Bitcoin Fraud: CFTC Announces Charges Against South African Individual and Firm

Largest CFTC Enforcement Action Ever Involving Bitcoin. The Commodity Futures Trading Commission (CFTC) has announced its largest enforcement action regarding Bitcoin ever. According to the CFTC, charges have been filed in a case involving a South African individual, Cornelius Johannes Steynberg, and his organizations involving… Read More

CFTC Charges Gemini Trust with Making False and Misleading Statements

Gemini Trust Company is the target of an enforcement action filed by the Commodity Futures Trading Commission (CFTC). The complaint was filed in the U.S. District Court for the Southern District of New York against Gemini for making false or misleading statements of material facts… Read More

SEC Commissioner Peirce and CFTC Commissioner Pham Join in Calling for Progress on Decentralized Regulation

SEC Commissioner Hester Peirce and CFTC Commissioner Caroline Pham have partnered on an Op-Ed published this week in the Hill calling for progress on the regulation of decentralization. Alluding to possible friction between the two agencies as regulators jostle as to which sector of crypto… Read More

CFTC Gets Asset Freeze Regarding “$44M Misappropriation” in Alleged Digital Asset Fraud

The Commodity Futures Trading Commission (CFTC) has filed an enforcement action alleging that Sam Ikkurty (aka Sreenivas I Rao), Ravishankar Avadhanam, and Jafia LLC, a company Ikkurty owns in Florida, with fraudulently soliciting at least $44 million to invest in a “so-called income fund” that sought… Read More

Bitmex Founders to Pay $10 Million Each to Settle CFTC Charges

Bitmex, once the leading crypto derivatives exchange, will see its three co-founders paying a $10 million penalty each to settle charges with the Commodity Futures Trading Commission (CFTC). According to a statement by the CFTC, Arthur Hayes, Benjamin Delo and Samuel Read must each forfeit… Read More

CFTC Schedules Roundtable on “Non-Intermediation” and Derivatives Trading

The Commodity Futures Trading Commission (CFTC) will hold a public roundtable on May 25, 2022, to discuss issues related to intermediation in derivatives trading and clearing. Non-intermediation and the discussion on this topic will probably address distributed ledger technology and the advent of DeFi or… Read More

CFTC Wins Consent Order on Firm that Told Clients it Would Trade Crypto For Them, Used the Money for Personal Expenses Instead

The Commodity Futures Trading Commission (CFTC) has announced a consent order against defendants Abner Alejandro Tinoco, and his company, Kikit & Mess Investments, LLC. The order was entered in the Western District of Texas in regards to an enforcement action. The order imposes injunctive relief, including… Read More

Send this to a friend