Tagged: cftc

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

Red Card Penalty Fine Infraction

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

Money Eyes Benjamin Look See

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

Stop Fraud 600

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

DeFi: CFTC Asks for Public Comment on FTX Request for “Non Intermediated Model”

Are You Ready For DeFi

The Commodity Futures Trading Commission (CFTC) says it has received inquiries from derivatives clearing organizations (DCO) or potential DCO applicants seeking to offer clearing of margined products directly to participants, such that participants would not clear through a futures commission merchant intermediary a non-intermediated model… Read More

CFTC, DOJ Charge Individuals in Alleged Bitcoin Ponzi Scam

BURNING BITCOIN

The Commodity Futures Trading Commission (CFTC) has charged Dwayne Golden of Florida, Jatin Patel of India, Marquis Egerton of North Carolina, and Gregory Aggesen of New York with fraud for operating a Ponzi scam involving Bitcoin. According to the CFTC, the four individuals fraudulently solicited more… Read More

Coinbase Acquires CFTC Regulated Derivatives Exchange FairX

Coinbase Stock on iPhone

Coinbase (NASDAQ:COIN) has acquired FairX, a Chicago-based, Commodity Futures Trading Commission (CFTC ) regulated derivatives exchange. In a blog post, Coinbase described the acquisition as the next step towards creating a “robust and holistic trading environment investors are seeking.” Coinbase currently operates under a hodge-podge… Read More

CFTC Commissioner Stump Comments on Tether/Bitfinex Enforcement Action: Concerned About Regulatory Confusion on Stablecoins

CFTC Commissioner Dawn DeBerry Stump

At the same time the CFTC announced its enforcement actions against Bitfinex and Tether, Commissioner Dawn D. Stump has issued a statement regarding the action by the regulator. Commissioner Stump says she agrees with the action taken by the Commission while expressing her concern regarding… Read More

Tether, Bitfinex Ordered to Pay Over $42 Million in Fines by CFTC

Justice Law Legal Court Lawsuit

The Commodity Futures Trading Commission (CFTC) has ordered Tether and Bitfinex (iFinex) to pay $42.5 million in fines, according to a statement by the regulator. Tether, a leading dollar-based stablecoin, must pay $41 million in regards to claims that Tether (USDT) was fully backed by… Read More

CFTC Charges Multiple Individuals in FOREX, Bitcoin Fraud

Stop Fraud

The Commodity Futures Trading Commission (CFTC) has charged several individuals in regard to allegations of FOREX and Bitcoin fraud. The CFTC states that an enforcement action has been filed in the U.S. District Court for the District of Massachusetts against Uduakobong Udo Inyangudo a/k/a Alexander… Read More

CFTC Files Charges Against Bevy of Crypto – Binary Option Platforms

Abe Lincoln Eyes Watch Look Dollar Money

The Commodity Futures Trading Commission (CFTC) has filed charges against 14 entities for either failing to register as futures commission merchants (FCMs) or else making false and misleading claims of having CFTC registration and National Futures Association (NFA) membership. The CFTC is pursuing cease and… Read More

Kraken Hit by $1.25 Million Penalty Imposed by CFTC, Commissioner Stump Calls Decision “Uncharted Territory”

Red Card Penalty Fine Infraction

Kraken (Payward Ventures, Inc), a digital asset trading platform, has been hit by a $1.25 million penalty imposed by the Commodity Futures Trading Commission (CFTC). According to a statement by the CFTC, Kraken offered illegal off-exchange trading in digital asetss and failed to register as… Read More

CFTC Posts 10 Points as to How They Regulate Digital Assets: Is it a Commodity or a Security?

CFTC Commissioner Dawn DeBerry Stump

The Commodity Futures Trading Commission (CFTC) has created an infographic outlining how the agency regulates digital assets. The CFTC seeks to clarify “the fallacy of the question ‘Is it a commodity or a security’.” Posted by CFTC Commissioner Dawn D. Stump, the Commissioner says the… Read More

CFTC Commissioner Brian D. Quintenz Issues Statement on Forthcoming Departure

Commissioner Brian Quintenz at CFTC TAC

Commissioner Brian D. Quintenz, long a voice in support of responsible Fintech innovation at the Commodities Futures Trading Commission (CFTC), has issued a statement regarding his forthcoming exit from the regulator. Quintenz’s term expired in April of 2020 but said he would not seek another… Read More

Two Congressmen Tell the SEC and CFTC to Form Digital Assets Working Group Now

US Capitol Washington DC a

US House of Representative Patrick McHenry and Representative Glenn Thompson have sent a letter to both the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) telling them to form a working group on digital assets. The letter arrives at a time when… Read More

BitMEX CEO Says Crypto Is Changing and They’re Changing with It, After $100M Penalty Pertaining to Alleged Illegal Trading, AML Violations

Lane Change Ahead

Crypto is “changing,” and BitMEX is “changing with it” according to Alexander Höptner, the CEO at the Bitcoin Mercantile Exchange. In a blog post dated August 10, 2021, the team at BitMEX revealed that they’ve reached a “resolution” with the US Commodity Futures Trading Commission… Read More

Bitmex Hit with $100 Milllion Penalty Pertaining to CFTC Action Claiming Illegal Crypto Trading, AML Violations and More

nathan shively Unsplash Referee Legal Penalty Violation Fraud

The Commodity Futures Trading Commission (CFTC), has announced a consent order against BitMEX and its affiliated entities. The order stems from a CFTC action filed on October 1, 2020, against BitMEX and its three individual founders, Arthur Hayes, Benjamin Delo, and Samuel Reed. The CFTC’s… Read More

US District Court Orders $1.75 Million Penalty in Digital Asset Ploy

Red Card Penalty Fine Infraction

The Commodity Futures Trading Commission (CFTC) has issued a notice that the US District Court, Southern District of Texas, has issued a consent order in regards to the Global Trading Club (GTC) and affiliated individual Mayco Alexis Maldonado Garcia, and a separate consent order against Cesar Castaneda and… Read More

CFTC: Court Bans and Fines PaxForex For Offering Illegal Leveraged Transactions in Crypto

Expired Penalty Fine Times Up

The Commodity Futures Trading Commission CFTC) has noted that the US District Court for the Southern District of Texas entered a default judgment against Laino Group Limited doing business as PaxForex (PaxForex) of St. Vincent and the Grenadines. According to the CFTC, PaxForex charged PaxForex… Read More

CFTC Settles Charges Pertaining to Misleading Statements in Digital Asset Offering

Dark Web Dark Net Danger Beware Money

The Commodity Futures Trading Commission (CFTC) has settled charges against Jozef Gherman of Florida and J Squared LLC for making misleading statements or omitting material facts in connection with soliciting more than $300,000 from more than 40 individuals to invest in digital assets. According to… Read More

US District Cour Enters Default Judgment Ordering David Gilbert Saffron and Circle Society Corp. to Pay $32 Million for Crypto Fraud

Stop Fraud

The Commodity Futures Trading Commission (CFTC) reports that the U.S. District Court for the District of Nevada has entered a default judgment against defendants David Gilbert Saffron and Circle Society, Corp. for a cryptocurrency fraud and a misappropriation scheme. The final judgment is the result… Read More

Send this to a friend