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US regulator fines crypto fund 0K for illicit Bitcoin loan

US regulator fines crypto fund $150K for illicit Bitcoin loan

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Source: Coin Telegraph

It’s part of the fallout from the industry-wide liquidity crunch triggered by FTX in 2022.  

Cryptocurrency fund lkigai Strategic Partners agreed to pay the National Futures Association (NFA) in the United States a $150,000 fine for an allegedly illicit Bitcoin (BTC) loan, according to an Aug. 20 decision by an NFA hearing panel. 

The action is part of the ongoing fallout from the industry-wide liquidity crisis following crypto exchange FTX’s collapse in 2022. It is also the latest instance of NFA — which helps regulate the United States derivatives market — policing activities in the spot cryptocurrency markets. 

Related: National Futures Association adds rules for members handling digital assets

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Author: Alex O’Donnell