CFTC Lawsuit Against Ooki DAO, $250,000 Settlement with bZx Creates New Precedents
The lawsuit and settlement suggest the use of governance tokens for decision-making in a Defi protocol doesn’t make it immune
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
SEC Attacks Coinbase Over Alleged Securities, CFTC and the Exchange Disagree
Coinbase, the DOJ, and the CFTC seem to be in disagreement with the SEC's latest statement.
Lummis-Gillibrand Crypto Bill Likely to Remain on Backburner This Year
One of the most proactive crypto industry regulation proposals this year has been put on the backburner as U.S. policymakers
CFTC Handles its Biggest Bitcoin-Related Fraud Scheme Worth $1.7 Billion
In what the CFTC described as the largest-caught scam involving BTC, the regulator has charged a man and a global
SEC Chair Seeks Formal Deal With the CFTC for Crypto RegulationÂ
SEC Chair has been pressing for control over the regulation of crypto trading, which a new bill seeks to entrust
CFTC Commissioner Compared Crypto Crash to 2008 Banking Crisis
The commissioner praised Sen. Lummis' crypto bill as an important step forward that offered a guideline for the authorities to
SEC Chair Gary Gensler Claims Lummis-Gillibrand Crypto Bill Undermines TradFi
The ongoing battle between the SEC and the CFTC over the rights to control crypto regulation is heating up.
Max Keiser: There’re a Few Fatal Flaws in Sen Lummis’ Crypto Bill
Bitcoin is the only true commodity, while the rest of the cryptocurrencies are proven securities, argued the BTC bull.
CFTC Edges Closer to Becoming Primary Overseer for Crypto
The U.S. Commodities and Futures Trading Commission is edging closer to becoming the official regulator and overseer of the digital
Former BitMEX CEO Arthur Hayes Avoids Prison Time, Sentenced to 2 Years Probation
After pleading with the US authorities that he should not spend any time in prison, Arthur Hayes got his wish,
