CFTC

CFTC levies $1.25 million penalty against Kraken — and Commissioner Stump weighs in on settlement

CFTC levies $1.25 million penalty against Kraken — and Commissioner Stump weighs in on settlement

The Commodities Futures Trading Commission (CFTC) has filed and settled charges against Kraken for failing to register as a futures commission merchant and offering margin transactions in crypto.  Kraken will pay a $1.25 million civil monetary penalty and refrain from further violations, according to a statement from the CFTC. The agency claims the crypto exchange …

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Legislation calls on CFTC to help craft effective crypto rules

Legislation calls on CFTC to help craft effective crypto rules

advertisement Newly submitted legislation in Congress seeks to push the Commodities Futures Trading Commission (CFTC) to create reports to bring more clarity to digital asset markets. Rep. Darren Soto (D-FL) introduced the two bills yesterday, co-sponsored by Reps. Ted Budd (R-NC), Ro Khanna (D-CA) and Warren Davidson (R-OH). The co-sponsors are all members of the …

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Coinbase settles with CFTC for $6.5 million over data reporting, employee wash trading allegation

Coinbase settles with CFTC for $6.5 million over data reporting, employee wash trading allegation

Coinbase has settled with the Commodity Futures Trading Commission, according to a Friday announcement, and will pay a $6.5 million penalty. The settlement focused on two areas: information about trade activity on Coinbase’s GDAX trading platform and allegations of wash trading by a Coinbase employee during a six-week period in 2016. The U.S. regulator said …

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0x senior counsel moves to policy advisory role at CFTC

0x senior counsel moves to policy advisory role at CFTC

A decentralized finance project’s senior counsel is headed to the halls of the U.S.’s commodities regulator. Jason Somensatto of 0x tweeted today he’d be joining the Commodity Futures Trading Commission (CFTC) as a policy and tech specialist. Somensatto will be joining the CFTC’s fintech innovation arm, LabCFTC. The branch advises CFTC staff on policy related …

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Joe Biden transition team adds former CFTC chair and crypto-focused academic Gary Gensler

Joe Biden transition team adds former CFTC chair and crypto-focused academic Gary Gensler

Gary Gensler, who chaired the Commodity Futures Trading Commission (CFTC) during the Obama administration, will lead the financial policy transition team for projected U.S. president-elect Joe Biden. CoinDesk confirmed the move today after the Wall Street Journal reported on Friday that Biden was expected to bring on Gensler. As CFTC chair, Gensler oversaw substantial reforms …

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What do SEC and CFTC press releases reveal about crypto regulation efforts?

What do SEC and CFTC press releases reveal about crypto regulation efforts?

Quick Take We analyzed the press releases of the SEC and the CFTC to draw insights on crypto-related enforcement efforts In 2020, we’ve seen the growth of crypto enforcement from the SEC drop while rising for the CFTC This research piece is available to members of The Block Genesis. You can continue reading this Genesis …

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SEC and CFTC say Maryland Ponzi scheme defrauded over 1,000 investors out of $27 million by promising crypto trading returns

SEC and CFTC say Maryland Ponzi scheme defrauded over 1,000 investors out of $27 million by promising crypto trading returns

The Securities and Exchange Commission (SEC) and Commodities Future Trading Commission (CFTC) have both charged a Maryland-based Ponzi scheme for allegedly defrauding over 1,000 investors to the tune of over $27 million. The defendants allegedly told participants their funds would be used by licensed traders for foreign exchange and cryptocurrency trading. Over the course of …

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Former CFTC chair says a tokenized dollar could be a better way to hand out relief money

Former CFTC chair says a tokenized dollar could be a better way to hand out relief money

A tokenized U.S. dollar would make it easier for the government to put money into the hands of people who need it during crises like the COVID-19 pandemic, according to a high-profile lobbying group that’s trying to make a digitized USD a reality. The Digital Dollar Project is headed by J. Christopher Giancarlo – former …

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Crypto-friendly CFTC commissioner Quintenz won’t seek re-nomination after term expires this month

Crypto-friendly CFTC commissioner Quintenz won’t seek re-nomination after term expires this month

Brian Quintenz, the crypto-friendly commissioner at the Commodity and Futures Trading Commission (CFTC), will leave his post later this year following the completion of a five-year statutory term. Quintenz has a financial management background and founded investment firm Saeculum Capital Management in 2013. He was nominated by President Barack Obama to take the post of …

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