Tagged: cftc

CFTC Tech Advisory Committee Meeting to Address Blockchain, AI, More

On Monday, January 8, 2024, the Commodity Futures Trading Commission’s Technology Advisory Committee (TAC) will hold a meeting to discuss several topics of note. According to the Agenda, the CFTC TAC will cover the use of Artificial Intelligence [AI], blockchain in regard to DeFi, and… Read More

CFTC Says Penalties and Disgorgement of Funds Regarding, Binance and Changpeng “CZ” Zhao Approved: Zhao Pays $150M, Binance Forks Over $2.7 Billion

The Commodity Futures Trading Commission (CFTC) states that the court deciding the case against Binance and its founder Changpeng “CZ” Zhao has formalized the settlement of a $150 million civil monetary penalty personally against Zhao, and Binance to disgorge $1.35 billion of “ill-gotten” transaction fees… Read More

Unprecedented Binance Settlement Could Lead to Greater Crypto Industry Transparency via Workable Regulations, Fintech Professional Claims

Former CEO and Binance founder Changpeng Zhao‘s (CZ) departure from the firm will trigger some short-term volatility in the cryptocurrency market, but crypto will “continue to thrive as more institutional money pours in,” predicts the CEO of an independent financial advisory, asset management and fintech… Read More

Binance Settlement May Impact Small and Illiquid Altcoins But Major Digital Assets Like Bitcoin Could Be Unaffected – Analysis

There were several notable digital asset and blockchain-focused developments that were announced this past week, including Republic choosing Avalanche for its profit-sharing investment Note. This week also saw crypto exchange Kraken being sued by the US Securities and Exchange Commission (SEC) for allegedly failing to… Read More

Binance to Pay $4.3 Billion Penalty to Settle DOJ Charges, Founder Changpeng Zhao to Exit Business

Binance, the largest crypto exchange in the world, has cut a deal with the US Department of Justice (DOJ) that appears to allow Binance to stay in operation. According to multiple reports, Binance will pay a hefty $4.3 billion penalty and plead guilty to charges,… Read More

French Autorite des Marches Financiers and US CFTC Announce Cooperation on Supervised Firms

The French Autorite des Marches Financiers (AMF)and the US Commodities Futures Trading Commission (CFTC) have signed an MOU [memorandum of understanding] to collaborate on supervised firms. The AMF regulates securities as well while the CFTC is focused on commodities and futures. As financial services have… Read More

CFTC Files Charges Against Voyager Digital CEO, Alleges Massive Fraud

Voyager Digital, now bankrupt as part of the crypto collapse of 2022, is in the news once again as the Commodities Futures Trading Commission (CFTC) has filed charges against its former CEO, Stephen Ehrlich. The CFTC is alleging fraud regarding a commodity pool ploy. In… Read More

CFTC Orders Utah Man to Pay $2.5 Million for “Leveraged Bitcoin Fraud”

The Commodity Futures Trading Commission (CFTC) has ordered that Jacob Orvida, a Utah man, pay restitution and a penalty of $2.5 million for allegations of fraud in a leveraged Bitcoin ploy. According to the CFTC, Orvida solicited investors to join a commodity pool to trade… Read More

US Commodity Futures Trading Commission Targets Three DeFi Providers, Coinfund Says Regulation by Enforcement is Catastrophic

The US Commodity Futures Trading Commission (CFTC) announced charges targeting three DeFi, or decentralized finance, operations yesterday. These included Deridex, ZeroX, and Opyn. The CFTC alleges the offering of illegal derivatives trading. The CFTC charged Deridex and Opyn with failing to register as a swap… Read More

US CFTC Commissioner Says it is Time for a Regulatory Sanbox, Calls for Digital Asset Pilot

At a speech delivered to the pro-market Cato Institute, CFTC Commissioner Caroline Pham has called for a Regulatory Sandbox. The UK Financial Conduct Authority (FCA) pioneered the Sandbox concept. The approach was to allow innovative Fintech firms to test products and services under the watchful… Read More

CFTC Files Complaint Against Fundsz Alleging Crypto Fraud

The Commodity Futures Trading Commission (CFTC) has filed charges against four individuals as well as an unincorporated entity called Fundsz. The complaint charges them with fraudulent solicitation from clients to purportedly trade in cryptocurrencies and precious metals. Filed in District Court in Florida, the following… Read More

Husband – Wife Team Hit with Fraud Charges by CFTC Alleging Digital Asset Scam Called Blessings of God Thru Crypto

The Commodity Futures Trading Commission (CFTC) has filed charges against Michael and Amanda Griffis of Clarksville, Tennessee, according to a statement issued by the Commission. The complaint charges the defendants with defrauding over 100 people and failing to register with the CFTC in connection with a… Read More

Digital Assets: FalconX, CF Benchmarks to Create Institutional-Grade Derivatives Contracts

FalconX, which claims to be the most reliable digital assets prime brokerage for the world’s leading institutions, is releasing the only crypto derivatives offered by a CFTC-regulated swaps dealer. These contracts are settled “against indices administered by CF Benchmarks, the FCA regulated cryptocurrency index provider.”… Read More

CFTC Files Suit Against Celsius and Founder Alex Mashinsky

The Commodity Futures Trading Commission (CFTC) has joined the SEC in filing a civil complaint against Celsius Network and its founder and former CEO Alex Mashinsky. Criminal charges were filed by the US Department of Justice as well in a trifecta of legal action against… Read More

Responsible Financial Innovation Act of 2023: Pro Digital Asset Senators Re-introduce Crypto Legislation

Senators Cynthia Lummis and Kirsten Gillibrand are reintroducing their comprehensive legislation addressing regulatory gaps in the digital asset sector. Both Senators are members of the key Senate Banking Committee that will need to approve any legislation if it will move forward in Congress. A previous… Read More

CFTC Settles Charges Against Two for Bitcoin Fraud, Guilty Pleas in Criminal Courts

The Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges regarding a multi-million dollar Bitcoin fraud, according to a release. Randy Craig Levine, formerly of Coral Gables, Florida, and Philip Reichenthal of Homestead, Florida, have been charged with engaging in a deceptive and fraudulent… Read More

CFTC Adds Members of its Global Markets Advisory Committee, Subcommittees; Uniswap, Polygon Team Reps Included

CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), announced new members and leadership of the GMAC and its Subcommittees on Global Market Structure, Technical Issues, and Digital Asset Markets. CFTC announces their new Digital Asset Markets Subcommittee – Members from… Read More

Ohio Man Ordered to Pay More than $50 Million for Bogus Digital Asset Trading Scam

Michael Ackerman, from Alliance, Ohio, has been ordered to pay over $50 million for a bogus digital asset trading scam. The Commodity Futures Trading Commission (CFTC) has received a default judgment regarding Ackerman from the U.S. District Court for the Southern District of New York…. Read More

Pig Butchering Scam Target of CFTC Enforcement Action

Another Pig Butchering scam is in the news again. “Sha Zhu Pan” or “Pig Butchering” is a romance plot designed to fleece the funds of the unsuspecting. In this case, the Commodity Futures Trading Commission (CFTC) has filed an enforcement action against Cunwen Zhu and… Read More

CFTC Claims Precedent Setting Legal Victory in Ooki DAO Litigation

The Commodities Futures Trading Commission (CFTC) is claiming a significant legal victory in the litigation of Ooki DAO. According to the CFTC, the decentralized autonomous organization has received a default judgment in which the court held that Ooki DAO is a “person” under the Commodity… Read More

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