News Platforms 

CFTC Requires Trading Platform to Pay $990K for Illegal Bitcoin-Related Transactions

“As Cointelegraph previously reported, the U.S. Securities and Exchange Commission (SEC) and Federal Bureau of Investigation (FBI) were also involved in prosecution” writes Ana Berman for cointelegraph.com. The United States Commodity Futures Trading Commission (CFTC) has announced Monday, March 11, that international securities dealer 1pool Ltd. and its CEO Patrick Brunner must pay a total of $990,000 for illicit Bitcoin (BTC) transactions with U.S. customers. Source: cointelegraph.com

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Futures News 

CFTC Settles Spoofing Case with Indian-American Trader

“An Indian-American trader has just settled spoofing charges with the Commodity Futures Trading Commission (CFTC)” writes Aziz Abdel-qader for financemagnates.com. In addition to the three banks, the multi-agency complaint accuses Krishna Mohan and other plotters of engaging in a plot to rip off other metals traders by spoofing.Earlier last year, Deutsche Bank, HSBC and UBS were hit by penalties, the largest of which was a $30 million fine for Germany’s biggest bank. Source: financemagnates.com

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Crypto Futures Markets News 

ETH Futures Case: The Industry’s Feedback to CFTC, Reviewed

“Now, given that Ethereum, like Bitcoin, has been cleared of being classified as a security, the watchdog might be preparing to greenlight Ethereum futures contracts” writes Stephen O’neal for cointelegraph.com. The CFTC, which oversees the futures and options market in the U.S., has long determined that Bitcoin is a commodity, and therefore falls into its regulatory purview.The agency also noted that it oversees the commodity futures markets as per the Commodity Exchange Act (CEA), meaning that the CFTC will most likely use the comments to assess the possibility of approving…

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Crypto News 

US: Crypto Advocacy Group Encourages Financial Regulators to Foster Innovation

“United States blockchain advocacy group the Chamber of Digital Commerce has encouraged two major financial regulators to foster blockchain innovation, according to an official tweet on Feb. 19” writes Ana Berman for cointelegraph.com. The examinations will include cryptocurrency surveillance practices, as well as other market and trading surveillance, including real-time monitoring.In a separate letter to the CFTC, the group expressed support for the Commission’s previously launched initiative, dubbed LabCFTC, which examines fintech innovations.The group believes that blockchain offers a “myriad of transformational benefits” for businesses, government. and consumers. Source: cointelegraph.com

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Crypto News 

CFTC Commissioner Brian Quintenz Suggests Creation of Crypto Self-Regulatory Organization

“United States Commodity and Futures Trading Commission (CFTC) commissioner Brian Quintenz has suggested that participants in the cryptocurrency industry should create a self-regulatory structure” writes Adrian Zmudzinski for cointelegraph.com. Securities and Exchange Commission (SEC) commissioner Hester Peirce, who was also a speaker at the panel, reiterated how confusing the current regulation of the crypto industry is.Still, the CFTC commissioner also pointed out that “a self-regulatory organization is specifically chartered by Congress through the law,” while this would only be a mutual association of private companies participating in the industry. Source: cointelegraph.com

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Crypto Futures Markets News 

SEC and CFTC to Consider a Joint Approach Towards Crypto

“As reported by Finance Magnates earlier this month, the Bitcoin futures market also took a hit since September last year as the trading volume is declining drastically” writes Arnab Shome for financemagnates.com. Though Bitcoin and Ethereum fall under the CFTC’s purview, the SEC is still controlling the larger initial coin offering (ICO) market.In a Bipartisan Policy Center event called “The Year Ahead for Capital Markets” last week, the two US market regulators – the SEC and the Commodity Futures Trading Commission (CFTC) – shared their views on the Bitcoin futures…

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Crypto Markets News 

CFTC’s First Published 2019 Examination Priorities Reveal Major Cryptocurrency Focus

“The move comes as cryptocurrency regulation continues in earnest both at the CFTC and counterpart the Securities and Exchange Commission (SEC)” writes William Suberg for cointelegraph.com. United States regulator the Commodity Futures Trading Commission (CFTC) has announced cryptocurrency will form a priority for its internal examinations this year, according to a press release published on Feb. 12. Source: cointelegraph.com

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Futures News 

CFTC secures default judgment against operators of Profit Management

“The United States Commodity Futures Trading Commission (CFTC) has secured a final default judgment against Hasan Sarwar and Rachida Elfrimi, operators of Profit Management, a Ponzi scheme purported to be a futures trading business” reports financefeeds.com. The scheme operated via two websites: www.profitmanagement.biz and www.lendmeforprofit.com, which both touted the Profit Management pool.The rest of the money was used either for business or personal expenses, or Ponzi-style payments to pool participants from other participants’ funds.Sarwar then transferred some of the money received from pool participants to a trading account held under…

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