Tagged: cftc

June 30, 2022 @ 12:23 pm By JD Alois  |  

Largest CFTC Enforcement Action Ever Involving Bitcoin. The Commodity Futures Trading Commission (CFTC) has announced its largest enforcement action regarding Bitcoin ever. According to the CFTC, charges have been filed in a case involving a South African individual, Cornelius Johannes Steynberg, and his organizations involving… Read More

June 2, 2022 @ 2:34 pm By JD Alois  |  

Gemini Trust Company is the target of an enforcement action filed by the Commodity Futures Trading Commission (CFTC). The complaint was filed in the U.S. District Court for the Southern District of New York against Gemini for making false or misleading statements of material facts… Read More

May 27, 2022 @ 4:33 pm By JD Alois  |  

SEC Commissioner Hester Peirce and CFTC Commissioner Caroline Pham have partnered on an Op-Ed published this week in the Hill calling for progress on the regulation of decentralization. Alluding to possible friction between the two agencies as regulators jostle as to which sector of crypto… Read More

May 19, 2022 @ 4:49 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed an enforcement action alleging that Sam Ikkurty (aka Sreenivas I Rao), Ravishankar Avadhanam, and Jafia LLC, a company Ikkurty owns in Florida, with fraudulently soliciting at least $44 million to invest in a “so-called income fund” that sought… Read More

May 5, 2022 @ 7:24 pm By JD Alois  |  

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

April 27, 2022 @ 10:25 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) will hold a public roundtable on May 25, 2022, to discuss issues related to intermediation in derivatives trading and clearing. Non-intermediation and the discussion on this topic will probably address distributed ledger technology and the advent of DeFi or… Read More

March 29, 2022 @ 7:03 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has announced a consent order against defendants Abner Alejandro Tinoco, and his company, Kikit & Mess Investments, LLC. The order was entered in the Western District of Texas in regards to an enforcement action. The order imposes injunctive relief, including… Read More

March 24, 2022 @ 11:18 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) says it has received inquiries from derivatives clearing organizations (DCO) or potential DCO applicants seeking to offer clearing of margined products directly to participants, such that participants would not clear through a futures commission merchant intermediary a non-intermediated model… Read More

March 8, 2022 @ 3:28 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has charged Dwayne Golden of Florida, Jatin Patel of India, Marquis Egerton of North Carolina, and Gregory Aggesen of New York with fraud for operating a Ponzi scam involving Bitcoin. According to the CFTC, the four individuals fraudulently solicited more… Read More

January 12, 2022 @ 5:49 pm By JD Alois  |  

Coinbase (NASDAQ:COIN) has acquired FairX, a Chicago-based, Commodity Futures Trading Commission (CFTC ) regulated derivatives exchange. In a blog post, Coinbase described the acquisition as the next step towards creating a “robust and holistic trading environment investors are seeking.” Coinbase currently operates under a hodge-podge… Read More

October 15, 2021 @ 12:17 pm By JD Alois  |  

At the same time the CFTC announced its enforcement actions against Bitfinex and Tether, Commissioner Dawn D. Stump has issued a statement regarding the action by the regulator. Commissioner Stump says she agrees with the action taken by the Commission while expressing her concern regarding… Read More

October 15, 2021 @ 11:43 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has ordered Tether and Bitfinex (iFinex) to pay $42.5 million in fines, according to a statement by the regulator. Tether, a leading dollar-based stablecoin, must pay $41 million in regards to claims that Tether (USDT) was fully backed by… Read More

October 1, 2021 @ 3:34 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has charged several individuals in regard to allegations of FOREX and Bitcoin fraud. The CFTC states that an enforcement action has been filed in the U.S. District Court for the District of Massachusetts against Uduakobong Udo Inyangudo a/k/a Alexander… Read More

September 29, 2021 @ 7:05 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed charges against 14 entities for either failing to register as futures commission merchants (FCMs) or else making false and misleading claims of having CFTC registration and National Futures Association (NFA) membership. The CFTC is pursuing cease and… Read More

September 28, 2021 @ 5:07 pm By JD Alois  |  

Kraken (Payward Ventures, Inc), a digital asset trading platform, has been hit by a $1.25 million penalty imposed by the Commodity Futures Trading Commission (CFTC). According to a statement by the CFTC, Kraken offered illegal off-exchange trading in digital asetss and failed to register as… Read More

August 24, 2021 @ 9:15 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has created an infographic outlining how the agency regulates digital assets. The CFTC seeks to clarify “the fallacy of the question ‘Is it a commodity or a security’.” Posted by CFTC Commissioner Dawn D. Stump, the Commissioner says the… Read More

August 19, 2021 @ 3:35 pm By JD Alois  |  

Commissioner Brian D. Quintenz, long a voice in support of responsible Fintech innovation at the Commodities Futures Trading Commission (CFTC), has issued a statement regarding his forthcoming exit from the regulator. Quintenz’s term expired in April of 2020 but said he would not seek another… Read More

August 16, 2021 @ 4:21 pm By JD Alois  |  

US House of Representative Patrick McHenry and Representative Glenn Thompson have sent a letter to both the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) telling them to form a working group on digital assets. The letter arrives at a time when… Read More

August 12, 2021 @ 10:59 am By Omar Faridi  |  

Crypto is “changing,” and BitMEX is “changing with it” according to Alexander Höptner, the CEO at the Bitcoin Mercantile Exchange. In a blog post dated August 10, 2021, the team at BitMEX revealed that they’ve reached a “resolution” with the US Commodity Futures Trading Commission… Read More

August 10, 2021 @ 4:23 pm By JD Alois  |  

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