-
SEC's Gary Gensler Take Note — CFTC Now Claims To Be The 'Premium Enforcement Agency' In Crypto Sphere
Wednesday, November 8, 2023 - 3:32am | 596The Commodity Futures Trading Commission (CFTC) has proclaimed itself as the top crypto enforcement agency. This comes after a year marked by a record-breaking number of enforcement actions targeting the cryptocurrency sector. What Happened: CFTC announced it has become the leading...
-
CFTC: Most Whistleblower Tips Involve Crypto, Commissioner Wants Stronger ID Verification
Wednesday, November 1, 2023 - 12:17pm | 551U.S. regulators paid $16 million to crypto whistleblowers this year as part of an effort to identify fraud and other illegal activities. As a result, the Commodity Futures Trading Commission (CFTC) plans to increase financial literacy, particularly related to crypto scams. “With the rise of...
-
North America Leads In Crypto $1M+ Transactions As Stablecoins Dominate: Report
Tuesday, October 24, 2023 - 10:34am | 677The fervor surrounding cryptocurrencies continues to grow, with North America spearheading institutional activity in the crypto sector. A research report by Chainalysis reveals that 76.9% of North America's cryptocurrency transaction volume is spurred by transfers of $1 million or more. This...
-
CFTC Files Civil Lawsuit Against Ex-Voyager CEO Stephen Ehrlich Over Fraud Allegations
Thursday, October 12, 2023 - 2:43pm | 564The U.S. Commodity Futures Trading Commission (CFTC) has filed a civil lawsuit against Stephen Ehrlich, the ex-CEO of the defunct Voyager Digital entities. The lawsuit alleges that Ehrlich engaged in fraud and failed to register with the CFTC, misleading customers about the safety of the Voyager...
-
CFTC Warns DeFi Investors Are Playing With Fire
Thursday, September 14, 2023 - 12:07pm | 611Ian McGinley, the director of enforcement at the U.S. Commodity Futures Trading Commission (CFTC), spoke at the PLI White Collar Crime Conference on Sept. 11, focusing on the rapidly evolving digital asset landscape, including the challenges and concerns surrounding...
-
CFTC Commissioner Says Crypto Regulation Must Evolve With Tech Or Investors Pay The Price
Tuesday, September 12, 2023 - 4:51pm | 621Commodity Futures Trading Commission Commissioner (CFTC) Commissioner Christy Goldsmith Romero has suggested that regulators need to update their protection measures with technological advances. She goes on to add that the inability to do the same is likely to impact the crypto investors. Amid...
-
Financial Crime Weekly: Rashawn Russell, From Investment Banker To Crypto Fraudster?
Friday, September 8, 2023 - 3:54pm | 622Rashawn Russell, a 27-year-old former investment banker at Deutsche Bank AG (NYSE: DB), and a Gates Millennium Leadership Scholarship recipient, found himself deep in a scandal earlier this year that is likely to see him banned professionally trading — at the very least. The Brooklyn native,...
-
CFTC Comes After DeFi Firms: 'Smart Contracts Don't Make Unlawful Transactions Legal'
Friday, September 8, 2023 - 11:28am | 564The U.S. Commodity Futures Trading Commission (CFTC) has taken stringent action against three decentralized finance (DeFi) firms. This latest development comes as the world of digital assets continues to draw attention, a focus that will also be explored in the upcoming Benzinga's Future of...
-
Changpeng Zhao Says Binance Is 'Much Stronger' And 'Way Ahead' In Regulatory Compliance
Monday, September 4, 2023 - 2:13am | 516Changpeng Zhao, popularly known as CZ, the CEO of cryptocurrency exchange Binance, remains unfazed by the recent surge of regulatory scrutiny directed towards his company. What Happened: During a Twitter Spaces event on Friday, CZ said he sees this as an opportunity for Binance to showcase its...
-
Celsius Network's Founder Under Arrest As Justice Department Targets Bankrupt Crypto Lender
Thursday, July 13, 2023 - 3:17pm | 576In a major development, Alexander Mashinsky, the founder and former CEO of Celsius Network (CRYPTO: CEL), has been arrested on charges of securities fraud, commodities fraud and wire fraud. What Happened: The charges, brought forth by the United States Attorney for the Southern District...
-
Celsius CEO Arrested In Wake Of Crypto Lender's Collapse, SEC Files Securities Fraud Lawsuit
Thursday, July 13, 2023 - 9:50am | 383The former CEO and co-founder of the now-defunct cryptocurrency lender Celsius (CRYPTO: CEL), Alex Mashinsky, was taken into custody on Thursday. This arrest comes in the wake of a Department of Justice inquiry into the downfall of the company, Bloomberg reported, quoting sources. The...
-
Former CFTC Chair Says Self-Regulation Path Forward To Avoid Lengthy Litigation: 'Way To Get Investor Protection Standards'
Monday, July 10, 2023 - 11:44pm | 496Former chairman of the Commodity Futures Trading Commission (CFTC), Timothy Massad, on Monday, advocated for the creation of a self-regulatory organization (SRO) to oversee the cryptocurrency industry. What Happened: In an interview with CNBC’s Jim Cramer, Massad said the need for regulation...
-
Celsius Network and Former CEO Face Potential Legal Action By US Regulators
Thursday, July 6, 2023 - 9:11am | 476The Commodity Futures Trading Commission (CFTC) has found that the now-defunct crypto lender Celsius Network (CRYPTO: CEL) and its previous CEO, Alex Mashinsky, violated U.S. regulations prior to the company's collapse. If the CFTC's commissioners concur with these findings, a lawsuit could...
-
Ether/Bitcoin Ratio Futures Set For Launch By CME Group To Capitalize On Market Dynamics
Monday, July 3, 2023 - 11:57am | 566Derivatives marketplace CME Group on Monday announced its intention to launch Ether (CRYPTO: ETH)/Bitcoin (CRYPTO: BTC) ratio futures on July 31, subject to regulatory approval. The new futures contract is designed to capitalize on the relative value trading opportunities that have...
-
Former SEC Office Of Internet Enforcement Chief Believes Binance Criminal Charges May Be Coming
Tuesday, June 13, 2023 - 2:22pm | 720Criminal changes against Binance may closely follow U.S. Securities and Enforcement Commission (SEC) action, according to a former prominent securities regulator member. John Reed Stark, a seasoned cybersecurity expert with extensive experience at the SEC, has issued a stern...