CFTC fines Tether and Bitfinex a combined $42.5 million
Tether and Bitfinex were fined $41 million and $1.5 million, respectively, by the Commodity Futures Trading Commission (CFTC) on Oct. 15, citing violations of a previous CFTC ruling. Tether, the company behind the eponymous stablecoin, only had sufficient cash reserves to underpin the dollar-pegged asset for 27.6% of the time during the 26-month period under […]
CFTC charges 12 crypto-based businesses in New York for failure to register
The Commodity Futures Trading Commission (CFTC) has penalized 12 crypto options companies in New York for failing to register with the agency. Some of the listed companies include Bitfxprofit, Star FX Pro, Smarter Signals and BinanceFx Trade. The CFTC announced in a news statement on Sept. 29 that it is pursuing charges against 14 organizations […]
CFTC orders Kraken to pay $1.25M as fine for alleged illegal offering
The US Commodity Futures Trading Commission has ordered Kraken exchange to pay more than $1 million in civil monetary penalties in connection with charges that the exchange violated the Commodity Exchange Act. The CFTC stated in a statement on Tuesday that Kraken, a cryptocurrency exchange based in the United States that operates under the name […]
CFTC commissioner says the agency does not have enough resources to regulate crypto
“If Congress decides that our jurisdiction should be expanded to include the cash market in some way, we’ll need a lot more resources to accomplish it,” Berkovitz says. Berkovitz said the Commodity Futures Trading Commission or CFTC, enforcement efforts in the crypto industry have been “tough,” citing a $100 million civil monetary penalty against derivatives […]
Andreessen Horowitz hires Former CFTC boss as an advisor
Andreessen Horowitz venture capital firm which is also known as a16z has brought former United States CFTC commissioner Brian Quintenz aboard its operation as an advisor. Over the last several years, cryptocurrency regulation has become a more important concern. Andreessen Horowitz, a venture capital firm, has hired a former leader of the United States Commodity […]