Tagged: rostin behnam

CFTC Charges Binance, Founder Changpeng Zhao, Others with “Numerous Violations” in Civil Enforcement Act

Zhao Changpeng

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

CFTC Joins SEC, DOJ in Filing Charges Against Caroline Ellison, Former Alameda CEO, Gary Wang, Co-Founder of FTX

The Commodity Futures Trading Commission (CFTC) has joined both the SEC and US Department of Justice in filing fraud charges against Caroline Ellison, former Alameda CEO, and Gary Wang, FTX co-founder and former CTO. The CFTC initially filed the fraud action on December 13 against… Read More

Little New Information Derived from Senate Agriculture Committee Hearing on FTX

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

Today: Senate Hearing on FTX Bankruptcy – “Why Congress Needs to Act”

The Senate Committee on Agriculture will hold a hearing today (December 1, 2022) at 10 AM ET to review the failure of FTX. This Committee holds oversight on the commodities industry and, therefore on aspects of crypto markets that are deemed to be regulated commodities…. Read More

Senator Josh Hawley Sends letter to AG, SEC and CFTC Demanding Correspondence with Democrat Party Pertaining to FTX Failure

Senator Josh Hawley has sent a letter addressed to Attorney General Merrick Garland, Securities and Exchange Commission (SEC) Chairman Gary Gensler, and Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, demanding all correspondence between the three federal entities and the Democrat party. Following the bankruptcy of FTX –… Read More

Senator Elizabeth Warren, AOC, Others Send Letters to Financial Officials Demanding They Shut the Revolving Door Between Crypto Firms and their Agencies

Multiple Democrat elected officials are slamming public financial agency leaders in a public letter criticizing the “revolving door” of public officials going over to crypto firms. The letter is signed by Senators Elizabeth Warren and Sheldon Whitehouse, along with Representatives Alexandria Ocasio-Cortez (AOC), Rashida Tlaib,… Read More

CFTC Penalizes bZeroX and Founders, Targets Ooki DAO as “Unincorporated Association,” One Commissioner Dissents

The Commodity Futures Trading Commission (CFTC) has filed and settled charges against bZeroX and founders Tom Bean and Kyle Kistner. The CFTC alleges that respondents illegally offered leveraged and margined retail commodity transactions in digital assets. The CFTC states that the activity can only be… Read More

CFTC Commissioners Welcome Bipartisan Digital Asset Legislation

Yesterday, a bipartisan group of US Senators announced legislation designed to give certain digital assets better regulatory clarity. Senators Debbie Stabenow, Chairwoman of the Senate Committee on Agriculture and John Boozman, Ranking Member, along with Senators Cory Booker and John Thune, have joined to craft the language of… Read More

CFTC Chair Announces Reorganization of LabCFTC Creating the Office of Technology Innovation

Commodity Futures Trading Commission Chairman Rostin Behnam announced a reorganization of Fintech and customer protection efforts and “changes to key roles as the agency evolves to address changing markets and market demographics.” Chairman Behnam is “bolstering the agency’s Fintech efforts by creating the Office of… Read More

CFTC Chairman Rostin Behnam on Crypto: “Existing ambiguities force hard decisions at the CFTC”

As part of a virtual presentation today hosted by the Brookings Institution, CFTC Chairman Rostin Behnam delivered a speech addressing crypto regulation. As any follower of the digital asset sector will understand, regulation of crypto remains a bit opaque After a round-up of the developing… Read More

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

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

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

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

CFTC Market Risk Advisory Committee Meets Next Week. Will the Committee Discuss Cryptocurrencies?

The US Commodity Futures Trading Commission (CFTC) has scheduled a meeting of the Market Risk Advisory Committee (MRAC) for January 31st. The meeting, which is open to the public, will be held at the CFTC HQ in Washington, DC. If you are interested you can… Read More

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