Tagged: cftc

November 4, 2020 @ 6:40 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) is reporting that the US District Court for the District of Colorado has entered a judgment against defendants Venture Capital Investments LLC (VCI) and its principal and manager Breonna Clark d/b/a Eliot Clark d/b/a Alexander Pak (Clark), of Denver,… Read More

November 2, 2020 @ 3:57 pm By JD Alois  |  

The US Commodity Futures Trading Commission (CFTC) and the South African Reserve Bank (SARB) have signed a Statement of Intent to cooperate and support innovation through each authority’s respective financial technology (Fintech) initiative. More specifically, the CFTC’s LabCFTC and SARB’s Fintech Unit. LabCFTC’s mission is… Read More

October 21, 2020 @ 9:51 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC), Division of Swap Dealer and Intermediary Oversight (DSIO) has issued an advisory to futures commission merchants (FCMs) regarding the holding of virtual currency in segregated accounts. The advisory, in the form of a Staff Letter, provides guidance to FCMs… Read More

October 15, 2020 @ 12:00 pm By JD Alois  |  

Last week, the US Department of Justice published a white paper, crafted by the Cyber-Digital Task Force, that outlines its approach to enforcement when it comes to digital assets (or cryptoassets). US Attorney General William Barr issued the following statement on the framework: “Cryptocurrency is… Read More

October 12, 2020 @ 2:31 pm By JD Alois  |  

Coinciding with DC Fintech Week (DCFW), LabCFTC, the innovation branch of the US Commodities Futures Trading Commission (CFTC), will host an event on October 21, 2020, entitled, “Empower Innovation 2020.” According to the CFTC, This is the second of three interactive virtual events hosted by… Read More

October 5, 2020 @ 6:00 pm By JD Alois  |  

Last week, BitMEX (Bitcoin Mercantile Exchange), a top crypto/crypto-derivatives exchange that is operated by HDR Global Trading Limited, a Republic of Seychelles incorporated entity, was hit with a civil enforcement action emanating from the Commodity Futures Trading Future Commission (CFTC). Simultaneously, a criminal lawsuit by… Read More

October 5, 2020 @ 10:33 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) said that the U.S. District Court for the Southern District of New York has entered a consent order against Jon Barry Thompson of Easton, Pennsylvania, imposing injunctive relief and restitution of approximately $7.4 million. In a parallel action, the… Read More

October 1, 2020 @ 12:17 pm By JD Alois  |  

BitMEX, a top cryptocurrency exchange that is big in the crypto derivatives sector, is the target of an enforcement action filed by the Commodity Futures Trading Commission (CFTC). According to the CFTC, a civil enforcement action has been filed in the U.S. District Court for… Read More

September 14, 2020 @ 10:25 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed charges against four individuals pertaining to “fraudulently soliciting funds from customers to speculate in Bitcoin price movements.” Filed in the U.S. District Court for the Southern District of Texas, the CFTC alleges that Texas residents Mayco Alexis Maldonado… Read More

September 2, 2020 @ 1:36 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has approved an Amended Order of Registration for LedgerX, LLC to clear additional products, subject to the terms and conditions specified in the order, as a derivatives clearing organization under the Commodity Exchange Act. LedgerX previously was approved to… Read More

July 13, 2020 @ 10:51 am By JD Alois  |  

In simultaneous announcements, the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have charged Plutus Financial, Inc.,  doing business as Abra in California, and Plutus Technologies Philippines Corp. dba as Abra International in the Philippines for entering into illegal off-exchange swaps in… Read More

July 9, 2020 @ 5:02 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has announced a series of Fintech focused virtual events to take place later this fall. Hosted by the CFTC’s innovation section, LabCFTC, “Empower Innovation 2020” will be a series of virtual events in place of a “Fintech Forward” conference… Read More

May 30, 2020 @ 5:20 pm By Omar Faridi  |  

The developers of the Digital Dollar project have published a detailed whitepaper that outlines the steps required for the US to issue its own virtual currency. As confirmed in the paper, the Digital Dollar Project is being developed with the assistance of the Digital Dollar… Read More

May 7, 2020 @ 2:55 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed charges against Daniel Fingerhut, Tal Valariola and Itay Barak and companies they controlled pertaining to digital asset and binary options fraud allegations. The scam allegedly generated over $20 million in commissions for the perpetrators. Fingerhut is said… Read More

April 28, 2020 @ 12:14 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has announced that Commissioner Brian Quintenz will depart the agency at the end of his term. Quintenz will have completed a 5-year stint at the Commission. Quintenz issued a statement on his decision to exit the CFTC stating that… Read More

April 21, 2020 @ 5:40 pm By Omar Faridi  |  

Digital asset exchange Bitnomial has been approved to offer Bitcoin (BTC) futures and options contracts. Established in 2015, Bitnomial acquired $7.5 million in capital through an equity raise that was finalized in December of last year. On April 20, 2020, the exchange operator confirmed that… Read More

April 16, 2020 @ 2:06 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed fraud charges against Alan Friedland and his companies, Fintech Investment Group, Inc. and Compcoin LLC. The CFTC claims that Friedland and his Florida based firms fraudulently solicited over $1.6 million in connection with a leveraged or margined… Read More

March 24, 2020 @ 3:53 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has “unanimously” approved final interpretive guidance concerning retail commodity transactions involving certain digital assets. Specifically, the guidance clarifies the CFTC’s views regarding the “actual delivery” exception to Section 2(c)(2)(D) of the Commodity Exchange Act (CEA) in the context of… Read More

March 18, 2020 @ 11:00 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has posted a page dedicated to the Coronavirus, or COVID-19, outlining actions the Commission has taken to mitigate the pandemic driven shock. The “dedicated website” highlights a slew of temporary relief letters the CFTC has published during this challenging… Read More

March 10, 2020 @ 4:52 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has issued an Order of Designation to Small Exchange, Inc., located in Chicago, Ill., granting it status as a designated contract market (DCM), effective today. Small Exchange is incorporated under Delaware state law. The Small Exchange seeks to make… Read More