Market

CFTC charges 12 New York crypto option companies if they are not registered

The Commodity Futures Trading Commission (CFTC) has indicted 12 New York-based crypto option companies for allegedly failing to register with the regulator.

In 29 press release, the CFTC announced that it is charging a total of 14 companies, with 12 crypto-oriented companies all found guilty of failing to register as florists. All companies are “allegedly based in New York”. Two other companies are charged with providing false information about their membership in the National Futures Association (NFA) and their registration with the CFTC.

Cryptocurrency options providers listed include relatively unknown names like Bitfxprofit, Star FX Pro, Smarter Signals, and BinanceFx Trade – the latter are not affiliated with the global exchange. Despite such a name, great demand for Binance.

“Today’s actions reflect the committed efforts of the CFTC to actively root out malicious actors who claim to be counterfeit in order to maintain legitimate registrations and protect the trading public,” said Vincent McGonagle, director of enforcement.

Companies that invest in commodities through futures must register with the CFTC as an FCM. The Commission regulates the scope of the derivatives market, including futures, options and swaps, but does not oversee the spot market for ordinary traders.

The derivatives market regulator had a busy week after dealing a heavy blow Tuesday to Kraken ordering them to pay $ 1.25 million civil penalties on charges of the Securities Exchange Act. hurt.

On September 28, Cointelegraph reported that CFTC Commissioner Dan Berkovitz will join the Securities and Exchange Commission (SEC) as General Counsel of the Securities and Exchange Commission (SEC) after retiring in October. ”

Related: CFTC Commissioner: The agency has no enforcement resources without Congress

Last month, the crypto derivatives exchange BitMEX agreed to pay the CFTC and FinCEN a civil fine of $ 100 million for “illegally operating a cryptocurrency trading platform and committing money laundering violations.”

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Companies that invest in commodities through futures must register with the CFTC as an FCM. The Commission regulates the scope of the derivatives market, including futures, options and swaps, but does not oversee the spot market for ordinary traders.
The derivatives market regulator had a busy week after dealing a heavy blow Tuesday to Kraken ordering them to pay $ 1.25 million civil penalties on charges of the Securities Exchange Act. hurt.
Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Bybit Proof Of Reserve Shows Changes In BTC, ETH, And USDT

Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…

11 minutes ago

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

60 minutes ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

2 hours ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

3 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

3 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

4 hours ago

This website uses cookies.