US Lawmakers Push for CFTC Action Against Election Gambling Amid Polymarket’s Rise

August 6, 2024 Bitcoin.com

bitcoin.com

A group of Democrat lawmakers, including Massachusetts Senator Elizabeth Warren, has penned a letter to Commodities and Futures Trading Commission (CFTC) Chairman Rostin Behnam, urging the agency to prohibit all forms of election-related gambling in the United States. This appeal is timely, as Polymarket, a blockchain-based platform for real-time prediction markets, has gained traction with […]

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

Jump Crypto unstakes $315M of ETH, now headed to exchanges

August 5, 2024 Coin Telegraph

Jump Crypto unstakes 5M of ETH, now headed to exchanges

Arkham Intelligence

Jump still holds at least $125 million of staked-Ether, blockchain data from Arkham shows.

Jump Crypto, the crypto division of Jump Trading, has shifted hundreds of millions of dollars worth of crypto to exchanges in recent days — sparking speculation that it may be preparing to sell off a huge chunk of its assets.

It includes over 120,000 staked-Ether (ETH) tokens — worth $314.8 million — which started moving on July 24 — one day after the launch of spot Ether exchange-traded funds in the United States.

Data from blockchain analytics platform Arkham shows much of those funds were unstaked at Ethereum redeem address “0x986…608c6” before being moved to Binance, OKX, Coinbase, ByBit and Gate.io deposit addresses.

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

CFTC Warns of Follow-on Frauds Targeting Victims Multiple Times

July 31, 2024 Bitcoin.com

bitcoin.com

The Commodity Futures Trading Commission (CFTC) warns about repeated fraud targeting victims multiple times, often by the same criminals. Common fraud types include relationship crypto frauds, also known as “pig butchering,” where scammers form online relationships, encourage investments in bogus crypto trading schemes, and then steal funds. Victims often face additional scams, such as fraud-recovery […]

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

Federal Agencies Join Forces to Fight Crypto Scams

July 13, 2024 Bitcoin.com

bitcoin.com

Several federal agencies, including the Federal Bureau of Investigation (FBI) and the U.S. Securities and Exchange Commission (SEC), convened at a Fraud Disruption Conference to combat crypto scams, particularly the “pig butchering” fraud that siphons billions from Americans annually. The meeting brought together over 300 officials from 15 federal agencies to strategize against this pervasive […]

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

Crypto Exchange Bitmex Pleads Guilty to Violating Bank Secrecy Act, AML Failures

July 13, 2024 Bitcoin.com

Arthur Hayes

Crypto exchange Bitmex has pleaded guilty to violating the Bank Secrecy Act (BSA) by failing to maintain an adequate anti-money laundering (AML) program, resulting in the company being a vehicle for large-scale money laundering. The DOJ announced this plea following previous legal actions and settlements. Bitmex says: “We have accepted the BSA charge, will seek […]

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

Federal Crypto Legislation Needed To Protect Investors and US Financial System From Future Risk, Says CFTC Chair

July 12, 2024 The Daily Hodl

CFTC

The chairman of the Commodity Futures Trading Commission (CFTC) says the US needs a regulatory framework to protect the public from the risks associated with crypto. In his testimony before the U.S. Senate Committee on Agriculture, Nutrition and Forestry’s hearing on the oversight of digital commodities, Rostin Behnam criticized the congress for failing to fill […]

The post Federal Crypto Legislation Needed To Protect Investors and US Financial System From Future Risk, Says CFTC Chair appeared first on The Daily Hodl.

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

CFTC Chair Pushes for Federal Legislation to Regulate Bitcoin and Ether as Commodities

July 11, 2024 Bitcoin.com

Bitcoin

During his Senate testimony, the chairman of the Commodity Futures Trading Commission (CFTC) emphasized the necessity of federal legislation to regulate digital commodities such as bitcoin and ether. Citing market volatility and fraud, the chairman advocated for expanded regulatory powers to safeguard investors and maintain financial stability. He also referenced a recent court ruling that […]

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

Supreme Court ruling ‘changes the game’ for US crypto firms

July 11, 2024 Coin Telegraph

CFTC

The high court’s decision further bolsters the argument “that Congress, not an agency, should decide if — and how — to regulate Web3.”

The impact of the United States Supreme Court’s Loper Bright vs. Raimondo decision is potentially profound for the cryptocurrency industry.

At the highest level, it may nudge the balance of power between the judicial and executive branches of the US government.

As a result of the 6–3 decision, US courts will no longer be required to “defer” to federal agencies when interpreting ambiguous statutes — as had been the case since the high court’s Chevron USA Inc. vs. Natural Resources Defense Council ruling in 1984.

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

CFTC chair reiterates BTC and ETH are commodities in testimony

July 11, 2024 Coin Telegraph

CFTC

The head of the US commodities regulator, Rostin Behnam, has again argued that the agency should be given regulatory oversight of Bitcoin and Ethereum to better protect investors.

The United States commodities regulator chief has again argued that Bitcoin and Ether — the two largest cryptocurrencies by market cap — are commodities, and his agency should be given oversight of them.

Speaking on July 9 before the US Senate Committee on Agriculture, Nutrition, and Forestry, the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam argued that a recent court ruling in Illinois stated that Bitcoin (BTC) and Ether (ETH) are commodities.

The July 3 ruling was part of a $120 million Ponzi case involving an Oregon man accused of fraud. In the order, the Illinois district court judge said both assets qualified as commodities.

Democratic SEC Commissioner Jaime Lizárraga Announces Plan To Step Down, Following Gary Gensler’s Footsteps

CFTC Wins Case Against Crypto Fund Operators

July 4, 2024 Bitcoin.com

bitcoin.com

The U.S. Commodity Futures Trading Commission (CFTC) filed a case against Sam Ikkurty, Ravishankar Avadhanam, and Jafia LLC for civil violations of the Commodity Exchange Act (CEA), specifically involving cryptocurrency investments. The court granted the CFTC’s motion for summary judgment on Monday, finding that the defendants misrepresented the performance of their crypto funds, operated a […]

CFTC

Share this video