The US CFTC is preparing to become a key crypto market regulator. They will allow the CFTC to act quickly to implement this digital market monitoring. According to the CFTC chairman, Rostin Behnam, the US Commodity Futures Trading Commission is prepared to become a major regulator of the cryptocurrency market.
Gary Gensler, the 33rd Chair of the US Exchanges and Securities Commission(SEC), has made proposals to collaborate with other government agencies like Commodity Futures Trading Commission(CFTC). This step is supposed to be taken for overseeing the regulation of digital assets. Gensler in an interview expressed his opinion that all the
The regulator claims Kraken accepted client trades and funds. Kraken was the sole margin provider and held all client assets physically. The CFTC fined crypto exchange Kraken $1.25 million for illegally offering some products. Between June 2020 and July 2021, Kraken, fined for facilitating margined retail commodity transactions in digital
Lately, there have been many regulation issues popping up in some countries. Few countries have imposed strong laws for regulations on crypto trading and exchange platforms. Likewise, the CFTC has announced that the US federal court has imposed a penalty against a forex broker. The Commodity Futures Trading Commission (CFTC)
Unlicensed DeFi is not only a bad idea but illegal too, says Berkovitz. Any platform that trades or processes swaps be registered as DCM or SEF. Allowing unregulated derivatives will compete with fully regulated entities. Dan M. Berkovitz, Commissioner of the Commodity Futures Trading Commission (CFTC), thinks that DeFi derivatives
CFTC has fined Coinbase over false trading claims. Moreover, Coinbase agrees to pay $6.5 million. Coinbase faced another investigation on the Ethereum flash crash. The Commodity Futures Trading Commission (CFTC) has fined Coinbase for false activities related to its in-house trading software. Added to this, Coinbase managed to close the
HDR Global Trading Limited, the parent firm of the cryptocurrency exchange Bitmex is facing a civil lawsuit claiming the exchanges three co-founders looted $440 million from the platform. HDR Co-founders faced criminal charges Moreover, the co-founders of the exchange are Arthur Hayes, Ben Delo, and Samuel Reed. However, they have
