Posts in category

CFTC


The U.S. Commodity and Futures Trading Commission (CFTC) has reportedly subpoenaed four cryptocurrency exchanges in a bid to obtain their trading data as part of an investigation into market manipulation. According to a The Wall Street Journal report on Friday, the financial market regulator is demanding comprehensive trading data from Bitstamp, Coinbase, itBit and Kraken, which altogether serve …

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Cryptocurrencies are here to stay, a U.S. Commodity Futures Trading Commission official said this week. Rostin Benham, one of the CFTC’s commissioners, spoke during the Blockchain for Impact Global Summit, held at the United Nations Plaza on Monday. During his speech, he emphasized the major potential for blockchain to address issues in healthcare, employment and crime, …

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The top U.S. futures regulator has denied a Freedom of Information Act (FOIA) request related to cryptocurrency exchange Bitfinex and the closely-linked ‘stablecoin’ operator Tether, according to records obtained by CoinDesk. The FOIA request, sent in late February, sought “subpoenas issued to iFinex inc. also known as Bitfinex and it’s subsidiary companies, as well as subpoenas …

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A jury will decide whether tokens issued through two allegedly fraudulent initial coin offerings (ICOs) count as securities, a U.S. district court judge said Tuesday. Businessman Maksim Zaslavskiy is accused of violating anti-fraud and registration provisions of federal securities laws after launching two token sales that officials say defrauded investors. He pled not guilty in early December …

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Two officials at the Commodity Futures Trading Commission (CFTC) spoke about regulating cryptocurrencies this week, stressing the need for cooperation between their agency and another powerful U.S. regulator, the Securities and Exchange Commission (SEC). Speaking at the FIA Law and Compliance conference in Washington, D.C., on Wednesday, commissioner Brian Quintenz spoke about “an effort that …

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Editor’s Note: The following transcript comes from Monday’s talk at the MIT Technology Review Business of Blockchain event given by Gary Gensler, former chairman of the Commodity Futures Trading Commission. Good afternoon, I am going to talk to you about blockchain technology and its real potential. And I believe it does have a real potential in the …

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The Commodity Futures Trading Commission apparently affirmed its ability to regulate cryptocurrencies as commodities on Thursday, after an alleged scammer gave up a legal fight against the agency. Patrick McDonnell, whom the CFTC sued in January, sent a letter to U.S. District Court chief magistrate Roanne Manne of the Eastern District of New York, saying …

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Tanzeel Akhtar is an independent British journalist whose work has been published in the Wall Street Journal, CNBC, FT Alphaville, Investing.com, Forbes, Euromoney and Citywire. “Pump and dump” schemes have been around since long before cryptocurrency was invented. What’s striking about the crypto markets is that this type of manipulation is done out in the …

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Defendants from a cryptocurrency services company charged with fraud by the CFTC are pushing back against the the agency’s assertion that cryptocurrencies are commodities. In January, the CFTC charged My Big Coin Pay Inc, Randall Crater, Mark Gillespie and other associated parties with fraud and misappropriation of funds, alleging that they swindled more than $6 …

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Riot Blockchain Inc. recently acquired the Miami-based Logical Brokerage Corp., a registered futures broker, according to a Tuesday filing with the U.S. Securities and Exchange Commission. According to the document, the former biotech company which recently pivoted to cryptocurrency, acquired 92.5 percent of the brokerage and “intends to investigate launching a digital currency exchange and …

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The Commodity Futures Trading Commission is having trouble serving a court summons to a binary options trader charged in January with stealing more than $1 million in bitcoin. The U.S. commodities regulator claimed in a court filing Tuesday that Dillon Michael Dean is avoiding their attempts to present him with the summons. The CFTC is …

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The Subcommittee on Capital Markets, Securities, and Investment convened Wednesday, March 14, to discuss the future of cryptocurrencies, digital currencies, ICOs, and Blockchain development in the US. Throughout the course of the proceedings, it became clear that the panel of four crypto and Blockchain industry experts was more or less in agreement that further regulatory …

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The Subcommittee on Capital Markets, Securities, and Investment considered the major questions associated with cryptocurrency and Initial Coin Offerings (ICO) in a recent hearing entitled “Examining Cryptocurrencies and ICO Markets” that took place in Washington DC on March 14. At the hearing, the Subcommittee discussed ICOs and cryptocurrency, the potential benefits for the economy, provision …

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A proposed cryptocurrency self-regulatory organization (SRO) put forward by Gemini founders Cameron and Tyler Winklevoss has won support from a key government advocate on the issue. CFTC Commissioner Brian Quintenz has consistently advocated for the creation of a crypto SRO, calling for such a move during last week’s keynote at the DC Blockchain Summit in …

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While lawmakers in the increasing number of statehouses are putting forward legislative initiatives that are nothing short of Blockchain-friendly (think Arizona, Wyoming or Georgia), federal policy architects on the Capitol Hill prefer to move one cautious step by another. The month of February, however, has seen Congress finally take issue at heart and favorably incline …

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In the lead up to Dec. 10 last year, there was a massive crypto rally that many feel was catalyzed by the announcement that Chicago Board Options Exchange (CBOE) would be launching Bitcoin futures. They were heralded as a melding of the crypto investment space and the traditional spheres. Now, those in Wall Street would …

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The Commodity Futures Trading Commission is moving quickly to assert its jurisdiction to police fraud in the cryptocurrency industry. Just two days after U.S. Judge Jack B. Weinstein of the Eastern District of New York ruled in favor of the CFTC, affirming its definition of cryptocurrency as a commodity, the regulator gave notice of “supplemental legal …

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New York-based fintech company trueEX has announced an upcoming release of a regulated derivatives marketplace for digital assets as well as a partnership between their newly created affiliate, True Digital Holdings (TDH), and Blockchain tech company ConsenSys to create a benchmark rate for the price of Ethereum (ETH). The announcement comes from a press release …

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The Praetorian Group, referred to as a “Cryptocurrency Real Estate Investment Vehicle,” (CREIV) has filed with the US Securities and Exchange Commission (SEC) on March 6 to register their $75 mln Initial Coin Offering (ICO) as a security offering. If the SEC accepts their registration, the Praeotorian Group will hold the first ever SEC-registered ICO. …

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Former chairman Jim Newsome of the US financial regulator the Commodity Futures Trading Commission (CFTC) predicted that the alleged cryptocurrency “bubble” will not burst soon, Forbes reported on March 8. According to Newsome, the lack of a concrete regulatory framework means that institutional investors are still not participating in cryptocurrency markets. Without clear regulations and …

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