Tagged: james mcdonald

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

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 11, 2019 @ 11:18 am By JD Alois  |  

In a case brought by the Commodity Futures Trading Commission (CFTC), two defendants, Morgan Hunt and Kim Hecroft, were ordered to pay almost $400,000 in penalties and restitution regarding Bitcoin-related fraud. The CFTC cautioned that the repayment of funds to victims may not result in… Read More

June 18, 2019 @ 1:37 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against UK based defendants Control-Finance Limited, a Bitcoin trading and investment company, and principal, Benjamin Reynolds.  According to the CFTC, the defendants are  charged with “exploiting public enthusiasm for Bitcoin by fraudulently obtaining… Read More

November 15, 2018 @ 3:20 pm By JD Alois  |  

The Commodities Futures Trading Commission (CFTC) Enforcement Director James M. McDonald delivered a speech yesterday addressing current trends regarding enforcement actions and, of course, crypto and virtual currencies were on the list. Speaking at the NYU School of Law, McDonald said the Commission is adapting… Read More

October 3, 2018 @ 1:38 pm By JD Alois  |  

Last week, CI reported on a court ruling where the Judge determined the Commodity Futures Trading Commission (CFTC) has jurisdiction in the case of My Big Coin Initial Coin Offering (ICO). The statement by the court will have ramifications for other actions pertaining to ICO… Read More

September 27, 2018 @ 6:38 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) announced an enforcement action today against an Austria based international securities dealer with providing securities swaps funded by Bitcoin. The SEC charges Patrick Brunner, CEO of 1pool Ltd. a/k/a 1Broker – registered in the Marshall Islands, with violations of US… Read More

May 16, 2018 @ 12:00 pm By Cali Haan  |  

Representatives from the three bodies policing securities in the US and the Chief Strategy Officer from the Bittrex cryptocurrency exchange spoke on an “Enforcement” panel May 15 at the Consensus conference in New York. Citing an “open door” policy, the regulators- James McDonald, Director of… Read More

April 18, 2018 @ 11:08 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has fired off another enforcement action against a questionable cryptocurrency operation. The CFTC has charged multiple individuals, and several companies, with fraud involving ATM Coin (asset trading market coin) and binary options. The CFTC filed the Complaint in the… Read More

January 24, 2018 @ 9:40 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has shut down another initial coin offering with allegations of fraud. The ICO unfortunately named My Big Coin (MBC) ends up becoming My Big Con as the enforcement action has charged defendants Randall Crater of East Hampton, New York, Mark Gillespie of Hartland,… Read More

January 19, 2018 @ 9:09 am By JD Alois  |  

Following the announcement by the Commodity Futures Trading Commission (CFTC) that it had undertaken two enforcement actions against Bitcoin / virtual currency related fraud, the Securities and Exchange Commission (SEC) and CFTC issued a joint statement from SEC co-enforcement Directors Stephanie Avakian and Steven Peikin… Read More

January 19, 2018 @ 8:50 am By JD Alois  |  

The CFTC Division of Enforcement Virtual Currency Task Force has been rather busy. Today, the Commodity Futures Trading Commission, has shared two enforcement actions filed against Bitcoin / Cryptocurrency related fraud cases. The first was against the Entrepreneurs Headquarters Limited, the second was filed against Defendants Patrick… Read More

January 19, 2018 @ 8:33 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action in the U.S. District Court for the Eastern District of New York against Defendants Dillon Michael Dean of Longmont, Colorado. Dean’s company, The Entrepreneurs Headquarters Limited, is apparently registered in the UK. The documentation filed… Read More