New data from market intelligence firm Kaiko Analytics shows that hedge funds are net short on Bitcoin (BTC) and Ethereum (ETH) on the Chicago Mercantile Exchange (CME). In a new research article, the crypto analytics platform says that while hedge funds are net short on both BTC and ETH on the CME, it does not […]
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On Tuesday, CME Group unveiled plans to introduce micro euro-denominated bitcoin and ether futures, set to debut on March 18, contingent on regulatory green lights. These euro-based offerings will mirror their U.S. dollar-based equivalents, each representing one-tenth of the respective cryptocurrency’s value. CME Group Announces Micro Euro-Denominated Bitcoin and Ether Futures Launch Following the 2021 […]
The former chief executive of an investment firm has been sentenced to two years in prison for a “cherry-picking” scheme involving crypto derivatives. In a new press release, the U.S. Department of Justice (DOJ) says that US-Russian national Peter Kambolin, the founder of Systematic Alpha Management (SAM), operated a $1.6 million cherry-picking scam where he […]
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Top US-based crypto exchange platform Coinbase is announcing the launch of crypto futures trading for retail investors in the US. In a new company blog post, the crypto exchange is announcing that US Coinbase Advanced customers can now trade regulated leveraged crypto futures through Coinbase Financial Markets. According to Coinbase, the futures contracts will be […]
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Hong Kong’s first crypto-based exchange-traded funds (ETFs) have attracted over $73 million ahead of their debut on the region’s stock exchange. The launch of the two ETFs tracking cryptocurrency futures listed in the United States comes despite the industry’s current troubles. Hong Kong Debuts Bitcoin and Ether Futures ETFs Amid Crypto Winter Two ETFs tracking […]
The world’s largest financial derivatives exchange is announcing a plan to roll out a new Ethereum-based financial product ahead of the leading smart contract platform’s upcoming upgrade in mid-September. In a new statement, the CME Group says that it is launching options for Ethereum (ETH) futures on September 12th, pending review and approval by regulators. […]
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Embattled crypto derivatives exchange CoinFLEX is announcing employee layoffs amid a legal battle with ‘Bitcoin Jesus.’ In a new blog post, CoinFLEX says it is laying off a significant number of employees across the board as a means of reducing overhead costs. “We, unfortunately, had to let go of a significant number of the CoinFLEX […]
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The listed crypto options providers named by the CFTC include relatively unknown names such as Bitfxprofit, Star FX Pro, Smarter Signals and BinanceFx Trade.
The Commodity Futures Trading Commission (CFTC) has charged 12 New York-based crypto options businesses with allegedly failing to register with the regulatory body.
In a Sept. 29 press release, the CFTC outlined that it is charging 14 entities in total, with the 12 crypto-focused firms all on the hook for failing to register as futures commission merchants (FCMs). All of the firms were "allegedly based in New York." The other two companies have allegedly posted misleading information about their National Futures Association (NFA) membership and registration with the CFTC.
The listed crypto options providers include relatively unknown names such as Bitfxprofit, Star FX Pro, Smarter Signals and BinanceFx Trade — the latter of which is unaffiliated to the major global exchange Binance despite its name.
“Today’s actions reflect the CFTC’s dedicated efforts to aggressively root out bad actors falsely claiming to hold legitimate registrations and protect the trading public,” said Division of Enforcement Acting Director Vincent McGonagle.
Firms offering exposure to commodities via futures are required to register as an FCM with the CFTC. The commission regulates the scope of derivatives markets which includes futures contracts, options and swaps, but does not oversee the spot markets for ordinary traders.
The derivatives market regulator has had a busy week after it slammed the enforcement hammer down on Kraken on Tuesday, ordering it to pay $1.25 million worth of civil penalties over allegations of Commodity Exchange Act. violations.
On Sept. 28 Cointelegraph reported that CFTC commissioner Dan Berkovitz will be joining the Securities and Exchange Commission (SEC) as general counsel following his departure in October. Berkovitz will reportedly work with SEC chair Gary Gensler on a “regulatory agenda that will enhance investor protection.”
Related: CFTC commissioner: Agency doesn’t have enforcement resources without Congress
Last month, crypto derivatives exchange BitMEX agreed to pay a civil penalty of $100 million to the CFTC and FinCEN for “for illegally operating a cryptocurrency trading platform and anti-money laundering violations.”
