CFTC is Doing SEC’s Real Job on Crypto According to XRP Decision
The SEC is seeking to appeal the Ripple ruling, while applications for a Bitcoin ETF are piling up. It seems
CFTC News and Updates
The US Commodity Futures Trading Commission (CFTC) is an independent federal agency that was established back in 1974 by the Commodity Futures Trading Commission Act. It regulates the commodity futures, as well as the options market. The goal is to protect investors against market manipulation, fraud, and abusive trade practices, while also promoting competitive and efficient trading.
There has been a serious debate regarding the nature of cryptocurrencies and whether or not they can be classified as commodities or securities, or even currencies, in general. Bitcoin, for example, was deemed a commodity by the CFTC back in 2015. Hence, those who operate with it would have to abide by the regulations set forth toward commodities.
In December 2019, the Chairman of the CFTC also said that Ether (ETH) is a commodity and, as such, falls within the jurisdiction of the CFTC.
Regarding other cryptocurrencies, it depends on their structure, intended use, and designation. As such, some of them may be considered securities and to fall within the department of the Securities and Exchange Commission (SEC), which posts a whole different set of rules.
Recent CFTC News
4 People Charged for Allgedly Defrauding Investors in Crypto and Precious Metal Scam
The four people, alongside their unincorporated entity, promised investors extremely high returns.
Tennessee Couple Faces CFTC Charges for ‘Blessings of God Thru Crypto’ Scheme
The CFTC alleged that the Tennessee couple managed to persuade 100 individuals to entrust them with their money despite having
Binance Officially Files for Dismissal of CFTC’s Case
The 49-page document addresses the CFTC’s complaints and claims that they are unfounded.
Stablecoins Connect Crypto With the Real World: CFTC Former Chair
Stablecoins could help America's payment system catch up with those that are more advanced, Massad stated.
Binance and CZ Will Pursue CFTC Case Dismissal
A bold move previously attempted by Coinbase and Bittrex will now be undertaken by Binance too.
Celsius and Former CEO Alex Mashinsky Violated US Law, Says CFTC Spokesman
The investigation launched by the CFTC in the wake of Celsius’ collapse has concluded, and a lawsuit may be in
CFTC Sues 5 Individuals for Bitcoin Trading Services Fraud
The CFTC alleged that thw defendants failed to use customer funds for bitcoin trading and did not deliver on its
Clear as Mud: CFTC Chair Says Cryptos Are Commodities, Former Commissioner Says They Can be Both
Former CFTC Commissioner Dan Berkowitz has spoken out about the status of crypto assets, and things are still no clearer.
South African CEO Ordered to Pay a Record $3.4 Billion Penalty in CFTC Bitcoin Fraud Case
The CFTC describes the Bitcoin fraud case as largest to date the agency.
