U.S. Senators Demand Transparency from CFTC Chair Amid FTX Scandal
In a bipartisan approach, Senators Elizabeth Warren(D-Mass) and Chuck Grassley (R-Iowa) have written a formal letter to the chair of the U.S. Commodity Futures Trading Commission (CFTC) Rostin Behnam requesting details of communications between the CEO of the crypto exchange FTX, Mr.Sam Bankma-Fried and him. The accusation came as Bankman-Fried was sentenced to 25 years […]
CFTC picks yet another fight with the SEC over KuCoin
Here we go again, folks. It seems like the drama between the United States Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) just got a new episode, and it’s all about KuCoin this time. Caroline Pham from the CFTC threw the first punch by hinting that their latest move on the […]
KuCoin Launches $10M Airdrop Following US Legal Charges
KuCoin, a cryptocurrency exchange, has released information that covers a $10 million airdrop of Bitcoin (BTC) and KuCoin (KCS) token. This news was brought by the CEO, Johnny Lyu, in a blog post on the exchange’s website on March 27. The announcement was made shortly after the United States Justice Department filed charges against the […]
KuCoin claims stability and safety following US indictment
KuCoin faces legal issues with Southern District of New York prosecutors (SDNY) as well as the Commodity Futures Trading Commission after being accused of conducting an unregulated agency that transferred money and failing to fulfill the anti-money laundering (AML) requirements under section 21 of the Bank Secrecy Act, Cryptopolitan reported earlier. Regardless of the ongoing […]
Former CFTC official challenges SEC on Ethereum regulation
Brian Quintenz, a former Commissioner of the Commodity Futures Trading Commission (CFTC), has openly criticized the Securities and Exchange Commission’s (SEC) approach to Ethereum (ETH). He labeled the SEC’s treatment of ETH as “illegal” and expressed concerns over regulatory confusion. This criticism comes in light of the SEC’s approval of Ethereum futures ETFs on regulated […]
CFTC Chair urges congress to craft crypto regulatory laws
During a recent session with the House Agriculture Committee, Rostin Behnam, Chair of the Commodity Futures Trading Commission (CFTC), emphasized the necessity for Congressional action to better define regulatory boundaries in the cryptocurrency sector. Behnam highlighted the importance of addressing regulatory gaps, especially with the volatility observed in the price of bitcoin (BTC). He dismissed […]
CFTC issues warning about AI trading bots in crypto markets
The United States Commodities and Futures Trading Commission (CFTC) has warned cryptocurrency investors about the risks associated with relying on artificial intelligence (AI) trading bots to generate massive gains. In a recently published statement titled “Customer Advisory Cautions the Public to Beware of Artificial Intelligence Scams,” the CFTC emphasized that AI cannot predict the future […]
CFTC seeks feedback on AI applications in derivatives markets
The United States Commodity Futures Trading Commission (CFTC) has issued a request for comment (RFC) to gain insights into how regulated entities are utilizing artificial intelligence (AI) in their compliance efforts and other applications within the derivatives markets. This move aligns with the directives set forth by the Biden Administration to ensure AI’s safe, secure, […]
CFTC Warns of AI-Driven Crypto Scams Targeting Investors
Stay informed about cryptocurrency scams with the latest CFTC warning. Learn how fraudsters exploit AI and what to do to protect your investments in the crypto market.
CFTC issues warning on AI-powered crypto scams
The Commodity Futures Trading Commission (CFTC) has issued a consumer alert cautioning individuals about the proliferation of artificial intelligence-fueled scams, particularly those promising significant returns through the use of cryptocurrency arbitrage algorithms. The agency has highlighted the dangers posed by scammers who make bold claims about AI’s capabilities to generate substantial profits through trading. Growing […]
CFTC targets DeFi market for enhanced regulatory oversight
In a significant development within the financial regulatory landscape, the U.S. Commodity Futures Trading Commission (CFTC) is setting its sights on the decentralized finance (DeFi) market. This move is part of a broader effort to understand and regulate emerging digital asset sectors, which have seen rapid growth and increasing complexity. Understanding and addressing DeFi risks […]
CFTC votes on a rule to secure customer funds in derivatives
In a significant development more than a year after the collapse of FTX, the Commodity Futures Trading Commission (CFTC) has moved to enhance protections for customers engaged in derivatives trading. The proposed rule, titled “Protection of clearing member funds held by derivatives clearing organisations,” aims to introduce stringent measures to safeguard customer funds, particularly those […]
CFTC proposes new rules to safeguard customer funds in derivatives trading
The U.S. Commodity Futures Trading Commission (CFTC) has taken a significant step towards enhancing customer protection in the derivatives trading industry in response to concerns stemming from the collapse of FTX last year. The CFTC commissioners recently voted in favor of a proposal to prevent derivatives clearing organizations (DCOs) from commingling customer funds with their […]
Breaking News: CFTC greenlights Bitnomial’s Bitcoin futures platform
Wednesday, the U.S. Commodity Futures Trading Commission (CFTC) approved a proposal by a Chicago-based brokerage and exchange for cryptocurrency derivatives to operate as its own registered clearinghouse. CFTC gives green light for Bitcoin futures Trading Bitnomial, a US-regulated digital asset derivatives exchange, was given a US clearinghouse license today to clear margined digital asset futures […]
CFTC sees a peak in US crypto enforcement via Binance settlement
In a recent development, a senior US regulator has hailed the $4.3 billion settlement reached with cryptocurrency exchange Binance as a pivotal moment in the ongoing regulatory crackdown on the crypto industry. The settlement, a consequence of Binance’s violations of US anti-money laundering and sanctions laws, has the potential to serve as a governance blueprint […]
Coinbase notifies users of CFTC subpoena involving Bybit
Coinbase, a major cryptocurrency exchange, has informed certain users about a subpoena it received from the U.S. Commodity Futures Trading Commission (CFTC). The subpoena relates to another crypto exchange, Bybit. This information, initially emerging from emails circulated by Coinbase and subsequently posted on social media platforms, has been confirmed by a person familiar with the […]
‘Binance is just the beginning’ – A warning from CFTC to crypto exchanges
The recent legal battle between the US and the Binance cryptocurrency exchange platform has been noted as the beginning of an aggressive pursuit, as exclaimed by the CFTC. The proceedings of the case have identified Changpeng Zhao as a guilty suspect in the allegations placed against him following his guilty plea and his announcement of […]
CFTC chair warns of repeat FTX scenario amid static crypto risks
Still reeling from the shockwaves of the FTX collapse, the cryptocurrency market faces ongoing scrutiny and calls for regulatory oversight. Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), recently emphasized the urgent need for a comprehensive regulatory framework to safeguard investors and stabilize the volatile market. During a seminar at Georgetown University, Behnam, […]
CFTC Chair advocates for greater congressional role in crypto regulation
In a bold testament to the escalating relevance of digital assets, nearly half of the Commodity Futures Trading Commission’s (CFTC) enforcement actions in the fiscal year 2023 targeted misconduct in digital asset commodities. The CFTC Chair, Rostin Behnam, emphasized the pressing need for broader congressional authority to tighten regulatory oversight in this burgeoning sector. Speaking […]
CFTC has paid $16m to crypto whistleblowers this year
In an astonishing revelation this year, the United States Commodity Futures Trading Commission (CFTC) has disclosed the whopping amount of $16 million paid out to whistleblowers, with a staggering 1,530 tips received, the majority of which were tied to cryptocurrency-related matters. The digital age has seen a significant increase in retail customers venturing into the […]
CFTC reveals whistleblower payments so far in 2023
The United States Commodities regulator, CFTC, has allocated a total of $16 million throughout the current year to individuals who provided critical information leading to successful enforcement actions. The lion’s share of these tips specifically pertained to the domain of cryptocurrency. In an official statement dated October 31, Commodity Futures Trading Commission (CFTC) Commissioner Christy […]
Binance & CZ push back HARD against CFTC lawsuit
Bold moves in the crypto space often draw polarizing reactions, and Binance, along with its formidable CEO, Changpeng “CZ” Zhao, have just demonstrated this to a tee. In what can be best described as a fierce pushback, both entities are challenging a lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC). Their lawyers have […]
CFTC Commissioner states cryptocurrency ‘is no longer a fad’ amid market uncertainty
In light of Bitcoin’s recent surge above the $35,000 mark, Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger stated that the cryptocurrency market has evolved and is no longer a fad. This declaration came during a conversation on CoinDeskTV, where Mersinger also expressed that there is substantial institutional interest in cryptocurrency investment products. Significantly, these […]
SBF’s 2 multimillion-dollar jets subject to justice – DOJ
The two multimillion-dollar luxury jets owned by Sam “SBF” Bankman-Fried are now subject to forfeiture, according to an Oct. 4 filing by the United States Department of Justice (DOJ). According to reports, although SBF owns the jets, he has never used them. According to the document, the possibility of forfeiture stems from the “offenses described […]
CFTC Chair Highlights Crypto Enforcement Actions and Calls for Legislative Update
The Chairman of the United States Commodity Futures Trading Commission (CFTC), Rostin Behnam, delivered a keynote address at the Financial Industry Association Expo 2023 event in Chicago, shedding light on the agency’s substantial involvement in the crypto space. Behnam also emphasized the urgent need for updated legislation to accommodate the evolving financial landscape. In his […]
U.S. Democrat advocates for centralized record-keeping of off-chain crypto transactions
U.S. Rep. Don Beyer, a Democrat from Virginia, is spearheading legislation to bring transparency to off-chain crypto transactions. The proposed bill seeks to compel major crypto exchanges to share their internal transaction data with centralized repositories. This move is designed to allow regulatory bodies like the Commodity Futures Trading Commission (CFTC) and the Securities and […]
Top Democrat urges federal agencies to enhance transparency in cryptocurrency markets
U.S. Senator Sherrod Brown, Chair of the Senate Committee on Banking, Housing, and Urban Affairs, has issued a clarion call to federal agencies, urging them to enhance transparency in the cryptocurrency markets. In a letter addressing Treasury Secretary Janet Yellen, Securities and Exchange Commission (SEC) Chair Gary Gensler, and Commodity Futures Trading Commission (CFTC) Chair […]
Brian Armstrong urges legal path for DeFi amid CFTC actions
Coinbase CEO Brian Armstrong has thrown his support behind decentralized finance (DeFi) and called for a legal precedent in its favor. In a recent social media post, Armstrong urged DeFi protocols to explore legal actions in court to establish their legitimacy in the eyes of the law. He argued that the current approach of regulatory […]
CFTC Commissioner advocates for modernized investor protection measures amid technological advances
Christy Goldsmith Romero, Commissioner of the United States Commodity Futures Trading Commission (CFTC), urged regulators to modernize investor protection measures by leveraging technological advances. Speaking at the North American Securities Administrators Association’s annual meeting, Romero emphasized that the government’s failure to keep pace with emerging technologies could adversely affect vulnerable investors. Romero’s call to action […]
U.S. court orders South African trading firm to pay $1.7 billion in crypto fraud case
A U.S. District Court has mandated that South African firm Mirror Trading International Proprietary Limited (MTI) pay $1.7 billion in restitution for operating a fraudulent bitcoin commodity pool. The ruling, announced by the U.S. Commodity Futures Trading Commission (CFTC) on September 7, brings closure to an enforcement case against MTI and its CEO, Cornelius Johannes […]
CFTC’s crypto crackdown in Florida, Louisiana, Arkansas
In a notable development, the landscape of the cryptocurrency world has been jolted yet again. The Commodity Futures Trading Commission (CFTC) is displaying zero tolerance, focusing its regulatory radar on individuals linked to an operation identified as Fundsz, a company embroiled in questionable investment solicitations. The heart of the matter lies in their unconvincing assertions […]
We’re ignoring stablecoin risks, says CFTC chair
Stablecoins – a form of cryptocurrency that is supposedly backed by real assets – are increasingly gaining popularity in the financial world. Despite their potential to revolutionize the payment mechanism, their risks are being largely overlooked, warned Timothy Massad, former chair of the Commodity Futures Trading Commission (CFTC). He posits that the persistent disregard for […]
Regulatory clarity coming soon to crypto markets, says CFTC Commissioner
US Commodity Futures Trading Commission (CFTC) Commissioner Caroline Pham, while appearing on Bloomberg Markets: The Close, stated that recent court decisions would provide much-needed clarity in cryptocurrency regulation. Notably, the ripple effect of the significant court ruling in favor of San Francisco-based fintech firm Ripple will set the stage for more refined rules in the […]
Former SEC and CFTC chairs call for collaborative approach to crypto regulation
Former SEC Chair Jay Clayton and former CFTC Chair Timothy Massad have expressed their belief that there are better paths for regulating the cryptocurrency industry than litigation. In a recent article published in the Wall Street Journal, they argue that lawsuits cannot adequately address the need for adjusting existing laws to accommodate the unique characteristics […]
Circle welcomes former Goldman Sachs executive Craig Broderick to board of directors
In a strategic move to enhance risk management and strengthen regulatory compliance, Circle Internet Financial, the issuer of the USDC stablecoin, has announced the appointment of Craig Broderick, a former executive at Goldman Sachs, to its board of directors. Broderick, renowned for his distinguished career spanning over three decades at Goldman Sachs, notably serving as […]
CFTC begins evaluation of Kalshi’s predictive power in Congressional Control
In a move that underscores the growing influence of prediction markets on political outcomes, the U.S. Commodity Futures Trading Commission (CFTC) has initiated a comprehensive review of Kalshi’s Congressional Control Prediction Markets. This review aims to evaluate the potential risks and benefits associated with these innovative markets, which allow users to bet on the control […]
CFTC considers investigation into KalshiEX’s contract
The CFTC will decide whether to look into a contract that allows users to bet on who will control the US Congress at prediction market operator KalshiEX. KalshiEX is reapplying for CFTC certification after withdrawing it last year. The outcome will determine whether or not binary contracts with a monetary settlement will be offered in […]
Landmark ruling: Court declares Ooki DAO a legal entity, orders $643,542 shutdown penalty
Last year, a federal district judge sided with the Commodity Futures Trading Commission (CFTC) in its civil enforcement case against the Ooki DAO (Decentralized Autonomous Organization.) This decision might have far-reaching repercussions for the DAO structure. The CFTC calls the court’s ruling that the DAO is a “person” under the Commodity Exchange Act a “sweeping […]
Coinbase and Robinhood take center stage in Congress to champion regulatory clarity for crypto
In a groundbreaking move, top executives from Coinbase and Robinhood and representatives from the United States commodities regulator will convene before Congress today to discuss a visionary crypto bill that promises to reshape the digital asset landscape. The proposed legislation seeks to classify specific crypto tokens as digital commodities while addressing regulatory gaps and providing […]
CFTC proposes rule change to strengthen risk management for digital assets
The United States Commodity Futures Trading Commission (CFTC) has proposed to amend its risk management program in response to the growing influence of digital assets and emerging technologies. Commissioner Christy Goldsmith Romero emphasized the need to address the risks associated with cryptocurrencies and artificial intelligence while highlighting concerns regarding industry custody practices. The proposal, aimed […]
