CFTC
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
Holy Crypto! Pastor Accused of Fleecing Flock in $5.9 Million-Dollar Scheme
- A Washington state reverend allegedly defrauded his Spanish-speaking congregation, promising impossible returns.
- The CFTC has filed charges seeking restitution while alleging he operated a Ponzi scheme with no actual trading platform.
Wednesday, 11/12/2024 | 08:18 GMT by
Damian Chmiel
My Forex Funds Case: “Careless and Sloppy” CFTC Lead Attorney Admits Shortcomings
- Recent court filings revealed that Ashley Burden admitted being “careless and sloppy” while investigating My Forex Funds and its CEO.
- However, the CFTC emphasised that their actions did not need to be flawless and that the staff's mistakes were "limited and inadvertent."
Monday, 09/12/2024 | 10:33 GMT by
Arnab Shome
US Commodity Regulator Nets Record $17B in 2024 Enforcement Actions
- Digital asset space was the most affected, with some of the largest enforcement actions in the CFTC's history.
- They include the $12.7 billion settlement with FTX and Alameda Research.
Wednesday, 04/12/2024 | 18:53 GMT by
Jared Kirui
CFTC Might Get Full Oversight over the US Crypto Market Under President Trump
- The anticipated change might make the CFTC responsible for overseeing the crypto spot markets and exchanges.
- Currently, the regulator oversees Bitcoin and Ether options and futures.
Wednesday, 27/11/2024 | 07:12 GMT by
Arnab Shome
Weak Dollar Pushes US Forex Deposits to Lowest Levels in 2024
- Retail Forex obligations fell to $526.8 million, marking the third consecutive monthly decrease.
- Only Charles Schwab and Gain Capital managed to grow their deposits, while Interactive Brokers saw substantial declines.
Thursday, 14/11/2024 | 10:22 GMT by
Damian Chmiel
Forex Firms Hit With CFTC Fraud Charges Over $7.6M Pool
- US regulator alleges FX trading companies and founder conducted fraud scheme targeting 40 investors.
- Defendants reportedly operated unregistered commodity pools and misappropriated investor funds in a Ponzi-style scheme.
Tuesday, 29/10/2024 | 07:01 GMT by
Damian Chmiel
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