Category: CFTC

Bill aimed at linking up SEC, CFTC for crypto-focused task force passes US House, heads for the Senate

The House of Representatives has passed a bill that aims to get the SEC and CFTC working together on digital asset rules. The Eliminate Barriers to Innovation Act of 2021 passed the House on April 20. Ranking Member Patrick McHenry (R-NC) first introduced the bill to the Financial Services Committee in March. Stephen Lynch (D-MA), […]

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CFTC commissioner stresses limits on agency’s authority in the crypto space in bitcoin conference speech

In an April 16 speech before Texas A&M’s Bitcoin Conference, commissioner Dawn Stump outlined a number of often-overlooked limits to the Commodity Futures Trading Commission’s purview. The CFTC, as its name suggests, regulates commodity futures markets, not spot markets, Stump reminded the audience. The commission can bring enforcement against certain criminal conduct in spot markets […]

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Former CFTC chair Giancarlo joins BlockFi’s board

J. Christopher Giancarlo, the former Commodity Futures Trading Commission chairman who left office in 2019, is joining the board of directors of BlockFi. BlockFi is a crypto neobank that allows users to earn interest on deposited crypto funds, which BlockFi lends out to institutions to use for arbitrage. Effectively, the firm provides high-interest savings accounts. […]

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Former CFTC chair Heath Tarbert joins Citadel Securities

Former chair of the Commodity Futures Trading Commission Heath Tarbert, who left the CFTC in March, will be joining Citadel Securities as its chief legal officer on April 5. Bloomberg broke the news on April 1.  During his time as chair, Tarbert became a familiar name within the crypto industry. Under his watch, the commission […]

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US Court Orders Man to Pay $572 Million After Running a Global Bitcoin Scam in 2017

After several years of investigation and court proceedings, the US District Court for the Southern District of New York granted a request by the CFTC to fine the mastermind behind a multi-million-dollar Bitcoin scam. According to an official press release issued by the CFTC. The Court ordered Benjamin Reynolds, owner of Control-Finance LTD, to pay […]

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Owner of bitcoin trading scheme Control-Finance ordered to pay $572 million

The U.S. District Court for the Southern District of New York has ordered the operator of bitcoin trading scheme Control-Finance to pay nearly $143 million in restitution and $429 million in penalties. Benjamin Reynolds allegedly failed to attend multiple court dates in a case from the Commodity Futures Trading Commission (CFTC), resulting in a default […]

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Breaking: Coinbase Postpones Nasdaq Listing Post CFTC’s $6.5M Fine

Coinbase has reportedly pushed back its much-awaited public debut on Nasdaq by a couple of weeks to April in the wake of CFTC’s $6.5 million fine for wash trading charges. The crypto exchange is currently under multiple investigations for its earlier misconduct, and people aware of the matter informed that the directors of the company […]

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Coinbase to Pay a $6.5 Million Fine Upon Wash Trading Accusations by the CFTC

Just before its direct listing, Coinbase has agreed to a 6,5 million-dollar fine after the CFTC found that the exchange engaged in illegal wash trading practices. The CFTC found that Coinbase could be engaged in trading practices that provided misleading information to services like Coinmarketcap and the CME Bitcoin Real Time Index. This happened via […]

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Coinbase settles with CFTC for $6.5 million over data reporting, employee wash trading allegation

Coinbase has settled with the Commodity Futures Trading Commission, according to a Friday announcement, and will pay a $6.5 million penalty. The settlement focused on two areas: information about trade activity on Coinbase’s GDAX trading platform and allegations of wash trading by a Coinbase employee during a six-week period in 2016. The U.S. regulator said […]

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