Tag Archives: CFTC

For some time now, people within the crypto space have been stating that institutional investors are rushing into the crypto arena and looking to trade digital assets. Following news that Grayscale had traded more than $1 billion in bitcoin during its second quarter, it seems like many other institutional firms have been looking to get a piece of the crypto action.Institutional Investors Keep Heading for the BTC HillsIn other words, it does look like institutional investors are rushing to get...

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have charged both Abra and Plutus Technologies for swapping securities and selling unregistered shares to retail customers. Both companies have agreed to settle the charges and pay fees of more than $150,000 each to clear their names.Abra Agrees to SettleIn a statement, Daniel Michael – chief of the SEC Enforcement Division’s Complex Financial Instruments Unit – explained:Businesses cannot ignore...

The Commodity Futures Trading Commission (CFTC) says it is having trouble locating a man named Benjamin Reynolds, a person allegedly responsible for a bitcoin theft of $147 million or more.The CFTC Is Trying to Find an Alleged Scammer That’s MIAReynolds first initiated the scam in 2017. As the director of the cryptocurrency investment firm Control Finance in the United Kingdom, Reynolds initially sought to get people on board by guaranteeing returns of 45 percent or more on whatever they...

The US Commodity Futures Trading Commission (CFTC) published a new set of regulations for derivatives assets, including cryptocurrencies. The agency is developing comprehensive rules for digital assets to promote innovation in the field.CFTC’s New Legislation For CryptocurrenciesThe CFTC is the US’s derivatives regulator. According to the chairman, Heath P. Tarbert, derivatives, including futures, swaps, and options, “provide critical risk management and price discovery tools that can promote...

The Commodity Futures Trading Commission (CFTC) has submitted a document to the New York Southern District Court to secure a default judgment against Benjamin Reynolds, the director of alleged fraudulent cryptocurrency scheme Control-Finance.According to reports from Finance Feeds, Reynolds failed to plead or defend the CFTC’s action, thus forcing the regulator to obtain a Certificate of Default against the defendant.The commission initially filed a lawsuit against Control-Finance and its...

Discussions around Bitcoin and cryptocurrencies, in general, have reached the high seats of investment banking.This becomes clear as the behemoth multinational investment bank Goldman Sachs hosted a conference call headlined US Economic Outlook & Implications of Current Policies for Inflation, Gold, and Bitcoin.Perhaps somewhat expectedly, the banking giant used its platform to bash cryptocurrencies, making some particularly expressive comparisons.Bitcoin And Cryptocurrencies Are Not an...

Bitnomial is the latest cryptocurrency exchange to receive the green light from the US Commodity Futures Trading Commission (CFTC) for offering US Bitcoin futures and options as designated contract markets (DCM). Announced on April 20, the derivatives contracts are to be margined and physically delivered, which means that traders will get Bitcoins after the final settlement of the contract. User Acceptance Testing Scheduled For This Month Even though the launch date of derivatives trading is...

Ex-CFTC chief’s Digital Dollar Initiative adds 22 new advisors and will release a white paper in the next two months. The Digital Dollar is serious as never, as ex-CFTC, FED, Treasury board directors join the venture.Chris Giancarlo is gathering the industry’s top minds around what could soon become the Bitcoin killer for institutions. The Digital Dollar initiative is serious as never, as ex-CFTC, Treasury board directors join the venture. Digital Dollar Foundation (DDF) issue a press...

A new more detailed version of the U.S. Cryptocurrency Act has been officially presented by Paul Gosar.The U.S. Cryptocurrency Act of 2020 has been introduced at the Congress. Sources say that Rep. Paul Gosar has presented the act alone. Co-sponsors usually do this together.As per the Act, digital assets are of three kinds: crypto commodities, crypto securities and cryptocurrencies. The U.S. CFTC, the SEC and the Treasury’s FinCEN are the three agencies that will regulate them.Tokens such as...

Bitcoin is a complicated asset, but nothing appears more complicated about bitcoin than what category it should fall into.So, What IS Bitcoin, Exactly?Everywhere you look, attorneys, regulators and other members of the crypto and financial spectrums are wondering how bitcoin should be classified. Is it a currency? It is in the sense that it can be used to purchase goods and services. The trouble is that this practice is not mainstream enough yet to really get the “currency” aspect of bitcoin...