Tagged: commodities futures trading commission

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

September 7, 2023 @ 3:28 pm By JD Alois  |  

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

March 27, 2023 @ 12:13 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed charges against Binance, founder and CEO Changpeng Zhao (known as CZ), and former Chief Compliance Officer Samuel Lim with “numerous violations” of the Commodity Exchange Act (CEA) and other regulations. Filed in the U.S. District Court for… Read More

February 16, 2023 @ 3:03 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has charged Vista Network Technologies and its CEO, Armen Temurian, with “fraudulent solicitation and misappropriation of customers’ digital asset commodities.” The CFTC claims that the defendants scammed over $7 million in Bitcoin and Ether from erstwhile customers. The CFTC described… Read More

January 9, 2023 @ 10:19 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a civil lawsuit against Avraham Eisenberg, alleging a fraudulent scam to obtain over $110 million in digital assets from a decentralized digital asset exchange. The enforcement action has been filed in the U.S. District Court for the… Read More

December 4, 2022 @ 5:24 pm By JD Alois  |  

Last week, the Senate Agriculture Committee, which has oversight of commodities markets, held a hearing on the collapse of FTX, once an inside-the-beltway darling, today a virtual pariah as policymakers rush to react to the bankruptcy of the crypto exchange. Before the crypto exchange went bust,… Read More

March 26, 2021 @ 9:35 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has announced that the U.S. District Court for the Southern District of New York entered a default judgment against Benjamin Reynolds, of Manchester, England. According to the judgment, Reynolds operated a fraudulent scheme to solicit Bitcoin from members of… Read More

January 26, 2021 @ 3:22 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a federal civil enforcement action in the U.S. District Court for the Southern District of New York charging Jeremy Spence of New York, alleging fraud for operating a Ponzi scheme involving digital assets such as Bitcoin and… 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

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

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 6, 2019 @ 11:35 pm By Cali Haan  |  

1Broker, a Marshall Islands-registered company with a CEO based in Austria, has announced it has settled lawsuits filed against it by the US Securities regulators, the SEC and CFTC: “We are pleased to let you know that we settled the two lawsuits without admitting or… Read More

February 15, 2019 @ 9:22 am By JD Alois  |  

The Commodities Trading Futures Commission posted their examination priorities for 2019 this past week and included on the list was cryptocurrencies. These priorities are for registrants of the Division of Market Oversight (DMO), Division of Swap Dealer & Intermediary Oversight (DSIO), and Division of Clearing &… Read More

December 15, 2017 @ 12:01 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has announced a Proposed Interpretation regarding its authority over retail commodity transactions involving cryptocurrency, such as Bitcoin. The Proposed Interpretation sets out the CFTC’s view regarding the “actual delivery” exception that may apply to virtual currency transactions. The CFTC… Read More