Rostin Behnam, the Chairman of the Commodity Futures Trading Commission (CFTC), is stepping down. His tenure leaves behind a trail of high-profile enforcement cases and a growing debate over crypto regulation. “After more than seven years at the U.S. Commodity Futures Trading Commission, I will be stepping down from my position as Chairman on January…
Many U.S. retail traders wonder where to turn when they discover that they have been cheated by a broker-dealer. If you have been trading for a while, this has likely happened to you at least once. The crux of the problem is that your access to evidence regarding the dispute is extremely limited–in contrast to…
A new report from crypto data aggregator CoinGecko reveals that US regulators have so far secured more than $19 billion in settlements from the digital asset industry in 2024. CoinGecko says the largest crypto enforcement action by monetary value as of October 9th was against bankrupt crypto exchange FTX and its affiliated trading firm Alameda…
Congressman Warren Davidson has introduced the Evaluating Defi Opportunities Act to foster data-driven regulations for decentralized finance (defi). He stressed the importance of safeguarding innovation and user privacy while addressing concerns over potential overregulation. This proposed study by key financial regulators seeks to balance defi’s growth with oversight, ensuring the sector’s competitive edge and resilience…
Commodity Futures Trading Commission (CFTC) has fined NinjaTrader Clearing, LLC (NTC) $983,425 for failing to adequately supervise employee handling of accounts linked to a fraudulent case. Fraudulent Account Handling According to the CFTC, the Illinois-based futures commission merchant failed to exercise due diligence in overseeing employee actions in managing suspected fraudulent accounts. A statutory restraining…
A US federal court ordered William Koo Ichioka to pay $31 million in restitution and $5 million in monetary penalty The New York resident was charged and ordered to pay a total of $36 million for defrauding victims in a forex and crypto scheme A New York man will pay $36 million for defrauding victims…
The regulator pleaded with the court to halt Kalshi’s political prediction markets for the duration of the CFTC’s appeal. Source link
Kalshi, which won a significant victory in court last week when a federal judge ruled its political prediction markets should be allowed to trade in the U.S., said the CFTC wouldn’t suffer any major harm if its new contracts were allowed to trade during the appeal process, but the company would “suffer substantial – indeed,…
If granted, the stay would mean Kalshi wouldn’t be allowed to list its election markets until late September at the earliest. The company, which settles trades in U.S. dollars, has been locked out of this year’s election betting boom, dominated by crypto-based rival Polymarket, which is barred from serving U.S. residents under its own settlement…
contributor Posted: September 4, 2024 The Commodity Futures Trading Commission has issued an order against one of the leading DeFi protocols in the crypto-space – Uniswap Labs. The enforcement agency took a hit at the crypto-focused platform because it “illegally offered leveraged or margined retail commodity transactions in digital assets via a a decentralized digital…