CFTC labels 34 crypto and forex firms as unregistered foreign entities
"Customers engaged in transactions with these entities may not receive the benefit of the customer protections, safeguards, and guardrails,” said CFTC commissioner Kristin Johnson. The United States Commodity Futures Trading Commission, or CFTC, has added 34 unregistered foreign entities to its Registration Deficient List, including at least six providing crypto-related services.In a Thursday announcement, the CFTC said it had expanded its list of firms that it requires to register with the CFTC for providing services including trading binary options, foreign currency or other products....
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A project with Satoshi Nakomoto’s namesake has been selected as the winner of the CFTC’s Project Streetlamp. A blockchain data platform has been selected the winner of the Commodity Futures Trading Commission’s first science competition, offering yet another compelling sign that distributed ledger technology has burst onto the mainstream. Nakamoto Terminal, a digital-asset analytics platform built by open-source intelligence company Inca Digital, has won the CFTC’s "Project Streetlamp" competition. Nakamoto Terminal was also named "Innovator of the Year" by the CFTC for its successful....
The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can be imposed,” the regulator said.
16 Foreign Crypto Exchanges Flagged by South Korean Regulator
South Korea’s top financial regulator, the Financial Services Commission (FSC), announced Thursday that the country’s financial intelligence unit (KoFIU) has notified investigative....
The Financial Conduct Authority has warned U.K. consumers of dealing with 111 unregistered crypto firms, calling it “a very real risk.” The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA) has warned consumers against 111 crypto companies that are yet to register with the FCA.Since Jan. 10, all U.K.-based crypto firms have had to comply with Anti-Money Laundering and Counter-Terrorist Financing laws, as well as to register with the FCA in order to operate legally. Many are yet to do so.Mark Steward, FCA’s head of enforcement asserted at the “City & Financial’s....
The Texas State Securities Board (TSSB) has announced a series of enforcement actions against 15 online investment entities that illegally market cryptocurrency, binary options, and forex investments in Texas. Fake Social Media Accounts The regulator alleges that operators of the companies are using their social media skills as well as the internet to mask the fraudulent nature of their operations. The emergency enforcement order, therefore, stops the flagged companies from continuing to operate from the state of Texas until they get a license from the regulator. Meanwhile, in his comments....
On Sunday, October 8, the UK’s Financial Conduct Authority (FCA) released an updated warning list of firms noted as non-authorized operators in the country. The latest move from the FCA is part of the UK’s regulatory measures to curb unregulated operations in its crypto sector. The FCA now frowns strictly on non-compliance with its financial rules […]