Filed at the Southern District of Florida, the complaint accuses Digitex of operating a digital asset derivatives exchange from an office in Florida from May 2020 through to May 2022.
Decentralization does not equate to having legal immunity, as seen in the suit faced by Ooki DAO, who's being pursued by CFTC for allegedly engaging in activities without proper registration.
The U.S. regulator settled with bZx founders for $250,000 for illegal margined and leveraged commodity transactions, while also suing the Ooki DAO and its token holders.
The visit by CFTC’s Caroline Pham, who criticized the SEC’s “regulation by enforcement” earlier this year, comes as both agencies fight for digital currency industry oversight.
Neither the DCCPA nor its rival, the Responsible Financial Innovation Act, are expected to receive Senate floor votes before Congress adjourns for the mid-term election cycle.
As more people embrace digital assets, the commission plans to work on raising investor awareness of the market, which includes introducing regulations and ramping up its oversight abilities.
Rathnakishore Giri posed as an expert trader and lured over 150 investors to commit fiat and BTC, then used the money for lavish lifestyle, according to the Commodity Futures Trading Commission.
Despite some commissioners at the CFTC and SEC dissenting, the two voted to require hedge funds with significant exposure to digital assets to report.
SBI Group confirmed that Clear Markets North America Inc., the U.S. subsidiary of Clear Markets, has gotten approval from the CFTC to offer physically settled OTC digital assets derivatives.
PredictIt had been allowed to operate on the condition that it was being used for academic purposes and became hugely popular, which the CFTC said the platform violated.
The new bill, which has been expected for months, is intended to "amend the Commodity Exchange Act to provide the CFTC jurisdiction to oversee the spot digital commodity market."
CFTC Chairman Rostin Behnam announced that the CFTC will restructure its LabCFTC unit to "take on a new identity as the Office of Technology Innovation (OTI) with an updated operating model."
