CFTC promises to protect 'the burgeoning markets for digital assets such as B...
The CFTC continues its roll of crypto announcements this week in a recent fraud bust-up. On Friday, the Commodity Futures Trading Commission made a fraudster pay back $7.4 million to investors while vowing to protect the Bitcoin market.Per the CFTC's announcement, James McDonald, Director of the commission's enforcement division, said The CFTC will continue working to protect our markets, including the burgeoning markets for digital assets such as Bitcoin, from fraudulent schemes, and will work in parallel with our criminal law enforcement colleagues where appropriate.Today's announcement....
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The CFTC's fintech wing has published its fourth primer, this time on digital assets. LabCFTC, the fintech-focused office of the Commodity Futures Trading Commission, has published a new intro to digital assets. The "Digital Assets Primer" is dated Dec. 15 but was announced Dec. 17. It includes basic definitions and overviews of digital asset markets, as well as a handy breakdown of the role of the CFTC and other regulators in establishing rules for these markets. The latest primer joins three others released over the course of LabCFTC's lifespan. The earlier, from October 2017, focuses on....
The comprehensive new bill sorts out regulators and addresses taxes, environmental impact, security and other major questions surrounding digital assets. The long-awaited Responsible Financial Innovation Act to create a regulatory framework for digital assets was introduced in the United States Senate on Tuesday. The official text of the 69-page document was also released. The bipartisan bill, sponsored by Senators Cynthia Lummis of Wyoming and Kirsten Gillibrand of New York, “addresses CFTC and SEC jurisdiction, stablecoin regulation, banking, tax treatment of digital assets, and....
Both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have claimed jurisdiction over the crypto industry. A CFTC commissioner clarified that pure commodities, including crypto assets, or their trading venues are not regulated by the SEC. Regulation of Crypto Assets by SEC and CFTC A commissioner with the U.S. Commodity Futures Trading Commission, Brian Quintenz, clarified Wednesday that pure commodities, including crypto assets, fall under the jurisdiction of his agency. He tweeted: “Just so we’re all clear here, the SEC has....
"A trading platform that offers derivatives on digital assets to U.S. persons without registering, or in violation of CFTC trading rules, is subject to the CFTC’s enforcement authority," said Dawn Stump. Dawn Stump, one of four commissioners currently serving at the Commodity Futures Trading Commission, or CFTC, has released a statement clarifying the agency's authority with respect to digital assets. In a Monday statement, Stump said the CFTC is empowered with both regulatory and enforcement authority for commodities. She did not specifically say that digital assets were cash-like....
Bipartisan lawmakers from the U.S. House and Senate Agriculture Committees have requested clear information from the chair of the Commodities Futures Trading Commission (CFTC) about the crypto industry and their role in monitoring it and taking enforcement actions. The CFTC chair Rostin Behnam intends to expand the regulator’s authority over the crypto market. Democrats and Republicans from the Senate and House Agriculture Committees agreed that the agency plays a “critical role“. In a letter that Bloomberg described as “a rare show of bipartisanship in a divided....