The 12 have allegedly been offering users the opportunity to purchase binary options based off the value of commodities like digital currencies and forex, according to the regulator.
The CFTC has settled with Kraken after accusing the exchange of offering unqualified investors illegal margined digital currency products without a license.
The Commodity Futures Trading Commission has launched a probe on Binance over alleged insider trading and market manipulation, saying its executives may have made money at the expense of users.
The three were charged for the scam by the Commodity Futures Trading Commission in September 2020 for duping at least 27 investors for close to $1 million.
The derivatives trading platform allegedly violated U.S. regulations when it offered investment products without acquiring the necessary license and failed to implement customer identification programs.
One of the most recognizable digital asset service providers still left standing from a bygone era in crypto, Coinbase was going public at the tail end of a historic run-up in digital assets prices almost across the board.
The company is accused of engaging in illegal, off-exchange transactions in these digital currencies as well as foreign currencies and precious metals without registering with the regulators.
The bill calls for a jointly established digital asset regulation working group, composed of bot the SEC and the CFTC as well as relevant business representatives, academics and investor protection organizations.
The implications of the CFTC’s finding and fine reach beyond Coinbase. In fact, it may prove disastrous for the development of a much-anticipated area of digital assets: the fabled Bitcoin ETF.
Arthur Hayes has reportedly surrendered himself to U.S. authorities in Hawaii, to face charges of failing to implement money laundering protections at BitMEX exchange.
Benjamin Reynolds, the founder of Control-Finance, is accused of misleading investors to believe he would invest their BTC, which authorities said he pocketed.