CFTC
Breaking: The Special Master in My Forex Funds Case Recommends Dismissal and Sanctions Against CFTC
- The court recommendation came a week after the CFTC sent four lawyers and one investigator involved in the My Forex Funds case to "administrative leave".
- The agency has been blamed for allegedly mischaracterising a tax payment to freeze all assets of the company running the prop firm and its CEO.
Tuesday, 13/05/2025 | 22:36 GMT by
Jared Kirui
CFTC Folds Its Hand in Election Betting Showdown with Kalshi
- The CFTC has dropped its appeal against Kalshi, allowing the platform to continue offering election betting contracts.
- This decision follows a lower court ruling that limited the CFTC's authority to ban such contracts on public interest grounds.
Tuesday, 06/05/2025 | 07:39 GMT by
Damian Chmiel
SEC Targets “Pig Butchering” and Romance Scams Leading to “Goodbye to Your Money”
- The campaign includes videos, a resource page, an investing quiz, and an article by the SEC’s education head.
- Earlier, the CFTC launched the “Dating or Defrauding?” campaign to address scams costing $4 billion last year.
Wednesday, 16/04/2025 | 15:37 GMT by
Tareq Sikder
XRP Price Declines Despite Coinbase Filing with CFTC to Launch XRP Futures Contracts
- Coinbase’s XRP futures contracts, tracking price and settling in USD, launch on April 21.
- Before Coinbase, Bitnomial and other major exchanges already offered XRP futures.
Friday, 04/04/2025 | 11:43 GMT by
Tareq Sikder
The Age of Artificial Deception: AI Fraud Is Fooling Investors, CFTC Warns
- The regulator mentioned that AI-generated fake images, voices, and live video calls are being weaponized for financial scams.
- Criminals also leverage AI to forge government and financial documents and fabricate identities with deepfake technology.
Wednesday, 19/03/2025 | 20:46 GMT by
Jared Kirui
Looking for Valentine's Love? Don't Be Part of the $4 Billion Romance Scam
- Regulators warn affection seekers not to get love-bombed into bankruptcy this month.
- The US agencies launch the “Dating or Defrauding?” campaign to protect online daters from sophisticated dating-related financial schemes.
Tuesday, 11/02/2025 | 08:29 GMT by
Damian Chmiel
He Promised Gold-Backed Crypto, Calling It “My Big Coin”— Now He Owes $7.6 Million
- Federal courts ordered Crater and Russell to pay $9.1M combined in restitution for separate digital asset fraud schemes.
- Both perpetrators received prison sentences and trading bans for defrauding investors through false claims and misappropriation of funds.
Tuesday, 11/02/2025 | 07:13 GMT by
Damian Chmiel
CFTC Tightens Oversight With Monthly Reporting Rule for Brokers
- The financial reports allow regulators to assess the financial health of futures commission merchants and retail foreign exchange dealers.
- The agency uses these reports to monitor the stability of firms and identify potential risks in the industry.
Friday, 07/02/2025 | 21:28 GMT by
Jared Kirui
CFTC CEO Forum Includes Circle, Coinbase, Crypto.com, Ripple in Pilot Program
- The Acting Chairman's proposed pilot program aims to offer regulatory clarity for digital asset markets.
- The CFTC has a history of using pilot programs to test regulatory frameworks, dating back to the 1990s.
Friday, 07/02/2025 | 17:06 GMT by
Tareq Sikder
These Traders Fooled 12,500 People, Now Must Pay $128 Million
- A Florida court charged three individuals for running a fraudulent commodity trading scheme through EmpiresX.
- The scheme defrauded investors of $41.6 million before collapsing in late 2021.
Wednesday, 05/02/2025 | 07:41 GMT by
Damian Chmiel
CFTC Targets Crypto.com for Super Bowl Trades: Will Robinhood Be Next?
- The regulator has investigated Crypto.com's sports-related event contracts developed by Kalshi.
- It raises questions about similar offerings through Robinhood's newly announced Pro Football Championship Market.
Tuesday, 04/02/2025 | 07:07 GMT by
Damian Chmiel
US Court Orders Trading Firms to Pay $451M Over Binary Options Fraud
- Last year, the court agreed with one of the implicated individuals to return a sum of $7 million in the binary options scheme.
- According to the CFTC, the fraudsters misrepresented their identities, financial expertise, and locations to deceive investors.
Wednesday, 29/01/2025 | 21:14 GMT by
Jared Kirui
CFTC Announces Major Staff Changes Following Trump’s Return
- Acting Chair Caroline Pham reshapes the financial commission's leadership amid the new presidential administration transition.
- New CFTC appointments highlight focus on crypto oversight and regulatory challenges.
Thursday, 23/01/2025 | 07:15 GMT by
Damian Chmiel
CFTC Promotes Caroline Pham as Acting Chair
- Pham was previously involved in controversy after criticizing the CFTC's enforcement division for alleged misconduct in the MyForexFunds case.
- She was appointed as a commissioner in 2022 and previously led the agency's Global Markets Advisory Committee.
Monday, 20/01/2025 | 18:14 GMT by
Jared Kirui
ASIC Mandates Stricter Compliance for Australian Firms: Highlighting Voice Communication
- The guidance stresses close supervision of representatives to ensure compliance with internal policies and external regulations.
- ASIC’s new rules reflect US regulatory actions, targeting greater transparency and stricter enforcement in financial communications.
Thursday, 16/01/2025 | 11:18 GMT by
Harriet Christie
For Two Years They Scammed Crypto Investors. Now Must Pay $1.1 Million
- Florida court orders Mosaic Exchange and CEO to pay a penalty for crypto trading fraud that targeted 18 investors.
- The scheme involved false claims about trading algorithms and fabricated profit margins during 2019–2021.
Tuesday, 14/01/2025 | 07:12 GMT by
Damian Chmiel
CFTC Chairman Rostin Behnam to Exit in February After Seven Years
- Behnam will step down on January 20, and his final day at the Commission is February 7.
- During his tenure, Behnam led notable enforcement efforts, including a landmark $4.3 billion settlement with Binance.
Tuesday, 07/01/2025 | 15:24 GMT by
Jared Kirui
Gemini Trust Co. Settles CFTC Lawsuit for $5 Million Ahead of Trial over Bitcoin Futures
- The lawsuit alleged that Gemini provided misleading statements while seeking approval for a Bitcoin futures contract.
- Earlier, Gemini agreed to return $1.1 billion to customers under the supervision of New York regulators.
Tuesday, 07/01/2025 | 14:23 GMT by
Jared Kirui
This Crypto Trading Scheme Results in Prison Terms, Million-Dollar Fines
- Five individuals were fined over $5M for running a digital asset fraud scheme targeting 190 victims.
- The Icomtech creators falsely promised high returns on Bitcoin trading but misappropriated customer funds.
Thursday, 12/12/2024 | 08:16 GMT by
Damian Chmiel
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