Paul Grewal says it’s clear the agency is undertaking a great effort to understand what is happening at the largest crypto exchange by trading volume.
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Bitcoin sank below $27,000 following news of the lawsuit, dropping to its lowest level since March 17. The world’s largest cryptocurrency by market cap is down 5% in the past 24 hours to about $26,700. Binance coin (BNB) declined by 5%. Matteo Bottacini, a trader at Crypto Finance AG, wrote BinanceBitcoinCFTCsDropsSuit Read More
Instead, this is likely just another significant blow to crypto’s reputation. Evidence suggests there is at least one informant at Binance, who passed private communications and self-destructing Signal messages to the commodities watchdog. Those messages paint a portrait of Binance – with Zhao at the helm – as a business BadBinanceCFTCsLawsuit Read More
The United States commodities regulator received a crash course on decentralized finance (DeFi) on March 22. Crypto executives briefed the regulator on key issues affecting the space, including exploits, decentralization and digital identities.As part of a scheduled first meeting of the CFTC’s Technology Advisory Committee (TAC) in Washington D.C., members CFTCsCommitteeDeFiDiscussedGatheredHeresTalkTech Read More
Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that "closes the current gap in the oversight of crypto spot markets."During a speech at the digital assets conference at Duke University on Jan. 21, Johnson proposed a number of amendments that would enable the CFTC to CFTCsCongressCryptoexpandedJohnsonOversightPowersUrges Read More
The Stellar Development Foundation (SDF) has become the newest member of the United States Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC), the blockchain announced on its blog. The committee is preparing to meet on Feb. 13 for the first time in over a year.SDF supports the Stellar AdvisoryBitcoinCFTCsCommitteeCryptocryptoexchangeExchangesGlobalJoinsMarketsorgsStellar Read More
The Agriculture Committee announced the hearing the same day it published a defense of the Digital Commodities Consumer Protection Act, a bill supported by Bankman-Fried. Industry participants have expressed concern over whether the bill might harm decentralized finance (DeFi) projects, while the committee said Monday that regulated entities under the BehnamCFTCsFTXHearingSenateTestify Read More
The federal regulator’s annual enforcement results revealed that over 20% of the CFTC’s enforcement actions in 2022 involved crypto.
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Still, it's how the CFTC has brought these charges that has attorneys in the crypto industry sounding alarm bells. The agency sought court permission to serve the entire DAO at once by posting the lawsuit on a public forum and through a help bot. Judge William Orrick, of the Northern ArentCaseCFTCsCourtCryptoDAOsLawyersOokipeople Read More
The application process seems to be “going well,” so far, said Zach Dexter, the CEO of FTX US Derivatives, at a separate event on Friday – the Security Traders Association market structure conference. FTX had seen the existing market as “a difficult system to deal with for retail investors” to BehnamcallsCFTCsEvolutionFTXIdeaMarketPotentialStructure Read More