CFTC Says 2023 Saw Record Number of Digital Asset Complaints, Nearly Half of All Enforcement Actions
The Commodity Futures Trading Commission (CFTC) says that 2023 has seen a record number of complaints about crypto assets, which were the topic of nearly half of its enforcement actions.
In a new press release, the regulatory agency says that fiscal year 2023 has seen a record number of digital asset cases, ultimately culminating in 47 enforcement actions.
“In FY 2023, the CFTC cemented its reputation as a premier enforcement agency in the digital asset space.
It filed high-profile complaints addressing frauds by major exchanges, individual Ponzi-schemers, and others; obtained a first-of-its-kind litigation victory against a decentralized autonomous organization; charged and won another litigation victory against a digital asset futures platform; brought an innovative litigation involving cross-market manipulation in blockchains; and continued its efforts to protect the public in the decentralized finance space.
In FY 2023, the CFTC brought 47 actions involving conduct related to digital asset commodities, representing more than 49% of all actions filed during that period.”
Some high-profile enforcement actions taken by the CFTC – which doesn’t operate in criminal court – include charging former FTX founder Sam Bankman-Fried and some of his colleagues with defrauding investors, Binance and its founder Changpeng Zhao for allegedly evading regulations, and Celsius and its former chief executive Alex Mashinsky with operating an unregistered commodity pool.
As stated by CFTC Chairman, Rostin Behnam,
“At a time of great uncertainty and volatility, healthy U.S. commodity markets are paramount to ensuring a strong economy. The CFTC will continue to take all necessary action to protect customer funds and ensure fair prices for U.S. consumers. I thank the Division staff for their hard work over the last fiscal year.”
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The post CFTC Says 2023 Saw Record Number of Digital Asset Complaints, Nearly Half of All Enforcement Actions appeared first on The Daily Hodl.
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Author: Mehron Rokhy
