The Solana (SOL)-based decentralized exchange (DEX) Mango Markets is shuttering after dealing with a slew of regulatory issues last year. The DEX announced its closure on Saturday, issuing proposals designed to make borrowing on the platform economically unviable. “Mango Markets will be shutting down. It is time for users to close their positions.” The U.S. […]
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President-elect Donald Trump is considering appointing Perianne Boring, chief executive of the Chamber of Digital Commerce, as Chair of the Commodity Futures Trading Commission (CFTC). According to a new report by Fox Business, anonymous sources familiar with the matter say that Trump is considering Boring to take the reins of the regulatory agency, partially due […]
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The Commodity Futures Trading Commission (CFTC) may reportedly oversee a substantial portion of the $3 trillion digital asset market once President-elect Donald Trump assumes office next year. Citing sources with direct knowledge of the Trump Team’s thinking, Fox Business reports that the incoming administration is eyeing to expand the power of the CFTC to include […]
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This week, the U.S. Court of Appeals for the District of Columbia Circuit has ruled in favor of the predictions market Kalshi, allowing the commodities exchange to offer event contracts based on the outcome of U.S. congressional elections. Circuit Judge Millett’s opinion supports the legality of the contracts, dismissing claims of gaming or election gambling. […]
The court order demands approximately 85% of the significant fine to be paid back to victims of William Koo Ichioka’s fraudulent scheme.
A federal court judge has fined a New York resident $36 million for allegedly swindling crypto investors by promising high returns and using the funds to support his lavish lifestyle.
According to a Sept. 20 statement published by the Commodity Futures Trading Commission (CFTC), US district court judge Vince ordered William Koo Ichioka “to pay $31 million in restitution” to victims and an additional $5 million civil monetary penalty for operating a fraudulent foreign exchange (forex) and crypto scheme.
The CFTC stated that Ichioka started the scheme in 2018, accepting money from investors and falsely promising them “10% returns every 30 business days.”
New York Congressman Ritchie Torres stated he is "more than happy" to work with the CFTC to develop a plan for regulating election betting contracts in the United States.
New York Congressman Ritchie Torres argued that instead of trying to ban election betting contracts, United States regulators should focus on regulating these contracts to prevent bad actors from gaining market share.
“I would ask that the Commission consider working toward a plan for regulating these markets, rather than preventing them from existing in regulated markets,” Torres wrote in a recent letter to the US Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam, shared by Politico.
The crypto-friendly democrat argued that the regulator should “focus its energies and resources on promoting the responsible innovation for which our financial markets are known.”
The Commodity Futures Trading Commission (CFTC) is filing charges against the firm behind Uniswap (UNI), alleging that it offered illegal crypto derivatives contracts. In a new press release, the regulatory agency says it has slapped Uniswap Labs with a $175,000 civil penalty and a cease and desist letter after it was allegedly found to be […]
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The Commodity Futures Trading Commission (CFTC) paid a whistleblower more than $1 million for informing the regulator about “improper trading” related to the crypto market. The CFTC notes the whistleblower’s information led to an enforcement action. Ian McGinley, the regulator’s director of enforcement, says the majority of the CFTC’s whistleblower tips in the past fiscal […]
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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.
US federal commodities regulators are reportedly probing Chicago-based trading firm Jump’s crypto business. Citing a person familiar with the matter, Fortune reports that the Commodity Futures Trading Commission (CFTC) is making inquiries into the trading and investment activities of Jump. The company known for its algorithmic and high-frequency trading strategies launched its crypto division, Jump […]
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