Cryptocurrency Analysis and News Portal
On Oct. 15, the Commodity Futures Trading Commission, or CFTC, handed sister crypto companies Tether and Bitfinex fines totaling $41 million and $1.5 million, respectively, citing violations of the Commodity Exchange Act, or CEA, and of a prior CFTC order.The regulator has found that Tether, the firm behind an eponymous stablecoin,
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“As to the Tether reserves, there is no finding that tether tokens were not fully backed at all times—simply that the reserves were not all in cash and all in a bank account titled in Tether’s name, at all times. As Tether represented in the Order, it has always maintained
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The Commodity Futures Trading Commission (CFTC) has charged 14 trading platforms that claim to offer crypto-related investments but have either failed to register with the CFTC or falsely claimed to be registered. These websites also exhibit other signs of being scams. 14 Entities Charged by CFTC After charging major cryptocurrency exchange Kraken,
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The Commodity Futures Trading Commission (CFTC) has charged 12 New York-based crypto options businesses with allegedly failing to register with the regulatory body. In a Sept. 29 press release, the CFTC outlined that it is charging 14 entities in total, with the 12 crypto-focused firms all on the hook for
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According to a Wednesday press release, the 12 relatively unknown options merchants accused of failing to register with the CFTC are New York-based. The two companies that are accused of “making false and misleading claims of having CFTC registration and National Futures Association (NFA) membership”—Climax Capital FX and Digitalexchange24.com— are
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One of the biggest cryptocurrency exchanges, Kraken, received a $1.25M fine. The Commodity Futures Trading Commission imposed the “civil monetary penalty” plus a cease and desist from “further violations of the Commodity Exchange Act (CEA)” on September 28th. According to the CFTC, Kraken provided margin for commodity transactions to retail
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In a statement, a Kraken spokesperson said, “We appreciate that today’s settlement acknowledges our cooperation and engagement on the issue. We are committed to working with regulators to try to ensure the rules governing digital assets create a level playing field globally – one that allows the crypto space in
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The United States Commodity Futures Trading Commission, or CFTC, is ordering crypto exchange Kraken to pay more than a million dollars in civil monetary penalties related to allegations the exchange is violating the Commodity Exchange Act.In a Sept. 28 statement, the CFTC said U.S.-based crypto exchange Kraken — operating under the
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Dan Berkovitz, one of three commissioners currently serving at the U.S. Commodity Futures Trading Commission, will be joining the Securities and Exchange Commission as general counsel following his departure in October.In a Sept. 28 announcement, the Securities and Exchange Commission, or SEC, said Berkovitz would assume the role of general
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U.S. President Joe Biden has tapped acting chairperson of the Commodity Futures Trading Commission Rostin Behnam to assume his position on a permanent basis, as well as two others to fill vacant commissioner seats.In a Monday announcement from the White House, President Biden said he planned to nominate Behnam —
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