Market News CME Group received approval to establish its own Futures Commission Merchant (FCM). The FIA warns that CME’s approval heightens systemic risk and conflicts of interest due to expanded market roles. On October 29, the CME Group, a leading player in the derivatives marketplace, received approval from the National Futures Association (NFA) to establish…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 The U.S. Commodities Futures Trading Commission (CFTC) is challenging a court decision that allowed Kalshi, a prediction market platform, to offer betting contracts on political events. On October 16, the CFTC filed an appeal to the Washington, DC Court of Appeals, arguing that the lower court “erred at every…
Ripple’s CEO has intensified criticism of the U.S. Securities and Exchange Commission (SEC), accusing the agency of ignoring a court ruling that XRP is not a security and overstepping its legal bounds. His remarks came after Bitnomial Exchange filed a lawsuit against the SEC, disputing the regulator’s authority over XRP futures. The case adds to…
FTX and its sister firm Alameda faced the largest crypto-related enforcement by US regulators, with a staggering $12.7 billion in combined settlement charges. According to CoinGecko’s findings, this amount tops the list of penalties imposed on cryptocurrency companies, highlighting the regulatory focus on the now-bankrupt exchange. Meanwhile, Binance’s $4 billion settlement is notable as the…
Crypto derivatives exchange Bitnomial is suing the U.S. Securities and Exchange Commission (SEC) over its authority to regulate XRP futures, challenging the classification of XRP as a security. The exchange, overseen by the Commodity Futures Trading Commission (CFTC), contests the SEC’s claim that XRP futures are “security futures” and aims to set a precedent affecting…
The U.S. Securities and Exchange Commission (SEC) is raising alarms about the growing risks of cryptocurrency scams and other investment fraud during World Investor Week 2024. Amid the rising influence of AI, social media, and aggressive financial marketing, investors are struggling to find reliable advice. The agency is focusing on scams involving cryptocurrencies, financial grooming,…
Coinbase seeks CFTC communications to defend against SEC lawsuit. SEC alleges Coinbase listed unregistered securities without proper requirements. Cryptocurrency exchange Coinbase has filed a motion to compel the U.S. Commodity Futures Trading Commission (CFTC) to produce communications with issuers of 12 tokens that are central to a lawsuit brought by the U.S. Securities and Exchange…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 A digital asset fraud has come under the radar of the Commodity Futures Trading Commission (CFTC) involving the deception of a couple of investors. On Friday, the US regulator filed a complaint against five entities: Aipu Limited, Qian Bai, Lan Bai, Fidefx Investments Limited, and Chao Li. They have been charged with fraud…
The U.S. Commodity Futures Trading Commission (CFTC) has initiated legal action against a fake trading platform and its associates for defrauding investors out of $3.6 million. The scheme, which targeted Asian Americans, involved soliciting funds in fiat and digital assets, with false promises of trading in commodity futures. Instead, the funds were misappropriated and diverted…
Congressman Warren Davidson has introduced the Evaluating Defi Opportunities Act to foster data-driven regulations for decentralized finance (defi). He stressed the importance of safeguarding innovation and user privacy while addressing concerns over potential overregulation. This proposed study by key financial regulators seeks to balance defi’s growth with oversight, ensuring the sector’s competitive edge and resilience…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Solana-based decentralized exchange (DEX) Mango Markets may soon be required to pay an additional $500,000 in fines to settle allegations from the Commodity Futures Trading Commission (CFTC). According to a proposal submitted by Mango Markets’ legal team on September 22 to the Mango DAO, the decentralized exchange is under…
William Koo Ichioka has been ordered to pay over $36 million after admitting to a forex and digital asset fraud scheme. His scam, which started in 2018, involved falsifying financial documents and misusing investor funds for personal luxuries like cars and jewelry. In addition to financial penalties, Ichioka faces prison time. The Commodity Futures Trading…
Federal court ordered William Koo Ichioka to pay $31 million in restitution and $5 million in monetary penalty. The New York resident was charged and ordered to pay the total $36 million for defrauding victims in a forex and crypto scheme. A New York man is to pay a total of $36 million for defrauding…
Market News CFTC claims that the recent manipulation attempts on Polymarket highlight are highly susceptible. The CFTC has ordered Kalshi to suspend its election prediction market due to concerns about manipulation. The Commodity Futures Trading Commission (CFTC) has raised serious concerns about the potential for manipulation in prediction markets, particularly in light of recent Kalshi…
A U.S. congressman has introduced the Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets Act (BRIDGE Act), aimed at improving collaboration between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on digital asset regulations. The bill proposes forming a Joint Advisory Committee to unite both agencies and…
The Commodity Futures Trading Commission (CFTC) has partnered with several organizations, including the Securities and Exchange Commission (SEC), to educate the public about cryptocurrency scams, especially those involving fake romantic relationships. These partnerships aim to help consumers recognize and avoid these “pig butchering” scams, which defraud victims by building false trust and promoting fake cryptocurrency…
September 12, 2024 at 02:20 PM GST updated: September 12, 2024 at 11:49 AM 2 mins read News Uniswap has never charged fees for protocol deployment, with all decisions made through community governance voting. Uniswap Labs prioritizes resource allocation based on complexity, such as integrating zero-knowledge (zk) and OP stack chains. Uniswap is focused on…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 The U.S. Commodity Futures Trading Commission (CFTC) is stepping up its efforts to fight cryptocurrency fraud by forming partnerships aimed at educating the public on common scams in the digital asset space. The initiative will focus on raising awareness about long-term fraud schemes, such as “pig butchering,” which has…
A federal judge this week sided with the prediction market Kalshi’s motion for summary judgment in its legal battle with the U.S. Commodity Futures Trading Commission (CFTC). This decision opens the door for U.S. citizens to place bets on the upcoming November election. However, the ruling isn’t the final word just yet, as the CFTC…
The U.S. Commodity Futures Trading Commission (CFTC) has fined Uniswap Labs $175,000 for unlawfully offering leveraged and margined retail commodity transactions in digital assets. It marks the latest regulatory crackdown on the decentralized finance (DeFi) sector. Key Details of the Case In a September 4 statement addressing the matter, the agency said Uniswap facilitated illegal…
The U.S. District Court for the Northern District of Illinois has ordered an Oregon resident and his entities to pay over $209 million in penalties for running Ponzi schemes disguised as crypto and carbon investment programs. This includes restitution, disgorgement of illegal profits, and a civil penalty. The Commodity Futures Trading Commission (CFTC) has recovered…
September 5, 2024 at 03:45 AM GST updated: September 5, 2024 at 01:37 AM 2 mins read News Uniswap Labs settles with CFTC for $175,000 over unregistered leveraged trades. CFTC charges Uniswap for illegal transactions in BTC and ETH. Uniswap’s global operations breach Commodity Exchange Act, prompting CFTC action. Uniswap Labs, formerly Universal Navigation Inc.,…
Uniswap has already stopped trading the particular leveraged tokens that prompted the investigation. The SEC has charged Uniswap Labs of running an unlicensed securities exchange. In a statement made public on September 4th, the Uniswap Labs, a developer of decentralized exchange (DEX), was charged by the US Commodity Futures Trading Commission (CFTC) with the unlawful…
The Commodity Futures Trading Commission (CFTC) has fined Universal Navigation Inc., operating as Uniswap Labs, $175,000 for illegal trading practices. The decentralized finance (defi) protocol operator was found in violation of the Commodity Exchange Act (CEA) for offering leveraged retail commodity transactions without proper registration. Uniswap Labs, the company behind a popular decentralized digital asset…
Uniswap hit with order by CFTC for illegal trading in digital asset derivatives The decentralized exchange will pay $175,000 in civil monetary penalty and is also ordered to cease and desist from the illegal offerings. Uniswap has settled with the Commodity Futures Trading Commission after the regulator found the decentralized exchange had violated derivatives trading…
contributor Posted: September 4, 2024 The Commodity Futures Trading Commission has issued an order against one of the leading DeFi protocols in the crypto-space – Uniswap Labs. The enforcement agency took a hit at the crypto-focused platform because it “illegally offered leveraged or margined retail commodity transactions in digital assets via a a decentralized digital…
The regulators of the United States are termed to be crucial in shaping the broader crypto market. Most of the time, the Securities and Exchange Commission and the Commodity and Futures Trading Commission remain in the spotlight because of their harsh actions over the digital asset market. According to a recent press release of the…
August 22, 2024 at 08:34 PM GST 2 mins read News Over 95% of FTX creditors back the reorganization plan, representing 99% of claims by value. FTX’s reorganization plan aims to repay 100% of non-governmental bankruptcy claims plus interest. The October 7, 2024, hearing will finalize the plan as FTX faces legal challenges, including a…