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CATEGORY: enforcement actions


CFTC: 20% of enforcement actions in FY 2022 crypto-related

Author: noreply@blogger.com (Unknown)
United States
Oct 21, 2022 11:10

CFTC: 20% of enforcement actions in FY 2022 crypto-related

The Commodity Futures Trading Commission (CFTC) has released its enforcement actions report for the Fiscal Year 2022, detailing some of the top actions brought against crypto firms over the past year.

According to the report, CFTC obtained orders against 82 companies and others during the year, with 18 of these enforcement actions digital assets-related, the regulator said.

In total, the commodities markets’ watchdog imposed more than $2.5 billion in fines, 20% of which were crypto-related.

Bitfinex,Tether among those to face enforcement actions

In Fiscal Year 2022, CFTC’s Division of Enforcement filed actions against 18 crypto and crypto-related firms, including crypto exchange Bitfinex and stablecoin issuer Tether.

As per the report, the CFTC’s enforcement unit charged Bitfinex with engaging in illegal, off-exchange crypto retail commodity transactions involving US persons. The exchange reportedly also offered the services of a futures commission merchant (FCM) illegally.

Tether Holdings Limited, the issuer of USDT was fined $41 million over false or misleading statements related to its stablecoin.

CFTC also brought enforcement actions against Digitex Futures over price manipulation and set a precedent by charging a decentralised autonomous organisation (DAO). Also sued in 2022 was crypto exchange Gemini, with the action relating to a proposed bitcoin futures contract.

Chairman Rostin Behnam.said:

“This FY 2022 enforcement report shows the CFTC continues to aggressively police new digital commodity asset markets with all of its available tools. I personally thank the Enforcement Division’s hardworking and dedicated leadership team and staff.”

The post CFTC: 20% of enforcement actions in FY 2022 crypto-related appeared first on Invezz.



from Cryptocurrency – Invezz

Jun 09, 2023 01:20

Bitcoin Advocate Nic Carter Accuses ‘Laser-Eyed Maxis’ of Turning Bitcoin Into a ‘Secular Cult’

In a tweet this week, crypto advocate Nic Carter took aim at those who claim to be bitcoin enthusiasts but have been applauding the U.S. Securities and Exchange Commission’s (SEC) enforcement actions. Carter accused these individuals of turning Bitcoin into a “secular cult” and argued that the “vast majority” of them are actually newcomers to

The post Bitcoin Advocate Nic Carter Accuses ‘Laser-Eyed Maxis’ of Turning Bitcoin Into a ‘Secular Cult’ appeared first on BTC Ethereum Crypto Currency Blog.

Jun 09, 2023 10:30

Robinhood to Delist Cardano, Solana, and Polygon Amidst SEC Regulatory Pressure

Fintech and crypto firm Robinhood has announced the delisting of cardano (ADA), solana (SOL), and polygon (MATIC) on June 27, 2023. This development comes after the publicly-listed company revealed that it was “actively reviewing” its coin listings in the wake of recent U.S. Securities and Exchange Commission (SEC) enforcement actions against Binance and Coinbase. Robinhood [...]

The post Robinhood to Delist Cardano, Solana, and Polygon Amidst SEC Regulatory Pressure appeared first on Crypto Breaking News.

Jun 08, 2023 05:50

SEC Summons Binance CEO CZ as Lawsuits Shake Cryptocurrency Industry

The United States District Court in Washington, D.C., at the request of the Securities and Exchange Commission (SEC), summoned Binance CEO Changpeng Zhao (CZ) on Wednesday. Binance CEO CZ Challenged by SEC Summons as Legal Battles Escalate On Wednesday, several social media accounts shared a summons intended for the CEO of Binance, Changpeng Zhao, also [...]

The post SEC Summons Binance CEO CZ as Lawsuits Shake Cryptocurrency Industry appeared first on Crypto Breaking News.

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