Tagged: cftc

September 13, 2024 @ 5:18 pm By Omar Faridi  |  

The Commodities Futures Trading Commission (CFTC) has no authority to second-guess election contracts, according to recent statements issued by a US Judge. The opinion on the Kalshi‘s lawsuit brought against the CFTC may have significant potential implications for an ongoing/current proposal that aims to place… Read More

September 4, 2024 @ 1:59 pm By JD Alois  |  

The Commodity Futures Trading Commission CFTC has ordered Uniswap to pay a $175,000 civil monetary penalty in regard to allowing “illegal digital asset derivatives trading.” The CFTC said the enforcement action was part of a broader strategy of targeting DeFi or decentralized finance firms. The… Read More

August 31, 2024 @ 3:09 pm By Omar Faridi  |  

The Commodity Futures Trading Commission issued an order filing and settling charges against Nasdaq Futures, Inc., formerly a designated contract market (DCM). The order finds Nasdaq Futures, Inc. reportedly failed “to properly establish, monitor, or enforce rules related to an incentive program Nasdaq Futures, Inc. offered… Read More

August 8, 2024 @ 3:56 pm By JD Alois  |  

The Commodity Futures Trading Commission is reporting that the US District Court for the Southern District of New York has entered a consent order of permanent injunction and other relief against FTX Trading and Alameda Research. The duo has been ordered to pay $12.7 billion in… Read More

July 26, 2024 @ 3:22 pm By JD Alois  |  

The Commodity Futures Trading Commission  (CFTC) says a US district court in Texas has ordered a Texas man, Abner Alejandro Tinoco, and his company, Kikit & Mess Investments, LLC, to fork over $31 million regarding crypto and forex fraud. According to the CFTC, the court… Read More

July 17, 2024 @ 12:38 pm By Omar Faridi  |  

Bankrupt virtual currency exchange FTX and the US Commodity Futures Trading Commission (CFTC) have reportedly agreed to a $12.7 billion settlement. The said agreement between FTX and the CFTC is currently awaiting approval from a Delaware Judge. The parties have been actively engaging in discussions… Read More

July 11, 2024 @ 6:12 pm By JD Alois  |  

Pig Butchering is a term that references a fairly common scam in which fraudsters target an individual, gain their confidence, and convince them to forward funds to an account where the con person and funds then disappear. Frequently, crypto is involved, as it is easy… Read More

June 28, 2024 @ 6:11 pm By JD Alois  |  

While there are crickets at the Securities and Exchange Commission (SEC), a Commissioner at the Commodities Futures Trading Commission has welcomed the Supreme Court’s decision this week in SEC v. Jarkesy. CFTC Commissioner Caroline Pham has issued the following statement on the ruling: “As I’ve said… Read More

May 10, 2024 @ 5:47 pm By JD Alois  |  

The Financial Innovation and Technology for the 21st Century (FIT21) Act is taking another step forward in a process to provide new rules to oversee the emerging digital asset ecosystem. The House Rules Committee has agreed to a floor vote, which is expected to take place… Read More

May 2, 2024 @ 8:47 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has scheduled an “AI Day” for today (May 2, 2024). In advance of this gathering, the CFTC has appointed its first Chief Artificial Intelligence Officer.  CFTC Chairman Rostin Behnam has selected Dr. Ted Kaouk for the new role. Currently,… Read More

March 30, 2024 @ 8:39 pm By Omar Faridi  |  

Caroline Pham from the Commodity Futures Trading Commission (CFTC) has been critical of the actions of her own regulatory agency, noting that the CFTC could be interfering on its partner agency in the recent charges it made against digital currency exchange KuCoin this past week…. Read More

March 26, 2024 @ 4:44 pm By JD Alois  |  

Republicans on the House Financial Services Committee and the House Committee on Agriculture are demanding that the Securities and Exchange Commission (SEC) clarify whether Ether (ETH—Ethereum) is a security or something else. In recent years, the SEC has publicly stated ETH is not a security…. Read More

March 26, 2024 @ 3:37 pm By JD Alois  |  

Earlier today, the Commodity Futures Trading Commission (CFTC) revealed an enforcement action against KuCoin, one of the largest crypto exchanges in the world. While KuCoin is based outside the US and apparently does not provide services to US users, the CFTC claims that the technology… Read More

March 26, 2024 @ 3:05 pm By JD Alois  |  

KuCoin has been hit with charges alleging the operation of an unlicensed crypto or digital asset derivatives exchange. The Commodity Futures Trading Commission (CFTC) filed the civil enforcement action in the US District Court for the Southern District of New York. The CFTC charged Mek… Read More

January 5, 2024 @ 12:29 pm By JD Alois  |  

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

December 18, 2023 @ 7:17 pm By JD Alois  |  

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

November 24, 2023 @ 10:59 am By Omar Faridi  |  

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

November 23, 2023 @ 9:52 am By Omar Faridi  |  

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

November 21, 2023 @ 3:41 pm By JD Alois  |  

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

October 27, 2023 @ 10:51 am By JD Alois  |  

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