The head of the U.S. Commodity Futures Trading Commission (CFTC), Rostin Behnam, had a lot of contact with Sam Bankman-Friend, the disgraced former CEO of FTX, but lawmakers suggest he hasn’t been fully forthcoming about those interactions. So, Sens. Elizabeth Warren (D-Mass.) and Chuck Grassley (R-Iowa) are demanding more.
Elizabeth Warren Demands U.S. CFTC Chair Explain His Chats With SBF
The head of the U.S. Commodity Futures Trading Commission (CFTC), Rostin Behnam, had a lot of contact with Sam Bankman-Friend, the disgraced former CEO of FTX, but lawmakers suggest he hasn’t been fully forthcoming about those interactions. So, Sens. Elizabeth Warren (D-Mass.) and Chuck Grassley (R-Iowa) are demanding more.
U.S. SEC Asking for More Millions, Dozens of Lawyers to Beef Up Crypto Oversight
Gary Gensler wants 33 more people in the enforcement division of the U.S. Securities and Exchange Commission (SEC) to deal with “new and emerging issues,” according to the regulator’s annual budget pitch. Much of that office’s recent, emerging workload has come from the agency’s pursuit of cryptocurrency businesses, such as Coinbase Inc., Kraken and Binance.
U.S. CFTC’s Behnam Says Agency Writing New Policy on Prediction Markets
U.S. Commodity Futures Trading Commission Chair Rostin Behnam said his agency will propose a rule in the coming months to establish new regulations for prediction markets.
US court approves settlement against Binance, paying $2.7B to CFTC
Former Binance CEO Changpeng “CZ” Zhao has been ordered to pay $150 million, while Binance will pay $2.7 billion to conclude the CFTC enforcement action.
Taiwan officials launch inquiry into crypto betting on election results: Report
Several Taiwanese residents were reportedly using the decentralized betting platform Polymarket, the same platform that saw record-breaking trading volumes during the 2020 United States election.
CFTC Chief: Nothing Changed After FTX Meltdown to Empower Agency to Prevent Repeat
U.S. regulators don’t have any more authority now to head off another major crypto collapse than they did when FTX imploded and took much of the industry with it, said Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam.
Crypto’s Bromance With U.S. CFTC May Be One-Sided
Half of the 2023 sanctions from the U.S. Commodity Futures Trading Commission (CFTC) targeted digital assets companies and individuals, according to the agency’s annual enforcement snapshot released on Tuesday.
Ex-FTX Unit LedgerX in Gray Area Beyond CFTC Proposal on Customer Funds: Commissioner
The U.S. Commodity Futures Trading Commission (CFTC) proposed a rule change Friday on how customer funds should be invested by firms the agency oversees – futures commission merchants (FCMs) and derivative clearing organizations (DCOs).
Voyager Ex-CEO Charged by U.S. Regulators With Fraud, Making False Claims
U.S. regulators have targeted former Voyager Digital CEO Stephen Ehrlich with lawsuits claiming he engaged in fraud and deliberately misrepresented his customers’ government protections.
U.S. House Bill Seeks Centralized Record of Off-Chain Crypto Transactions
It would be hard for a big exchange to repeat an FTX collapse if the firm’s internal flow of crypto assets was also reported to an outside repository that U.S. regulators could see. That’s the idea behind new legislation from Rep. Don Beyer (D-Va.) that would force exchanges to share the movement of digital assets now only recorded on their own ledgers.
CFTC Goes After Opyn, Other DeFi Operations in Enforcement Sweep
The Commodity Futures Trading Commission (CFTC) has charged three decentralized finance (DeFi) operations – Opyn, Inc., ZeroEx (0x), Inc. and Deridex, Inc. – with offering illegal derivatives trading, according to a Thursday statement from the agency.
CFTC Commissioner Pitches Pilot Program for U.S. Crypto Regulation
The U.S. watchdog for derivatives markets should create a limited pilot program for regulating cryptocurrencies, said Caroline Pham, one of the members of the Commodity Futures Trading Commission (CFTC).
Coinbase, Tarred as an Illicit Exchange by the SEC, Quietly Got Regulated Elsewhere in the U.S.
As Coinbase Inc. (COIN) scraps with the U.S. Securities and Exchange Commission (SEC) on its right to exist as an exchange, the company has achieved an unprecedented milestone in U.S. oversight by winning approval to handle customers’ buying and selling of crypto futures.
CFTC charges Tennessee couple over ‘Blessings of God Thru Crypto’ scheme
Despite having no trading experience a Tennessee couple convinced 100 people to hand over their money for a uniquely named crypto investment pool.
Binance, CEO Changpeng Zhao intends to seek dismissal of CFTC complaint
Binance, Changpeng Zhao and former compliance chief Samuel Lim intend to file two motions to dismiss a March lawsuit from the CFTC.
Binance Feels Strain of World’s Regulators Leaping Into Action
Australian officials directly sought out current and former employees of Binance’s operation there this week, demanding copies of internal communications and data from their personal devices, according to a person familiar with the government’s move against the leading crypto exchange, which marked the latest in a pile-up of legal troubles facing the company.
CFTC to Review Prediction Market Kalshi’s Contracts to Bet on Control of Congress
The Commodity Futures Trading Commission will decide on June 26 whether to start a formal 90-day review of prediction market provider KalshiEX’s contract that allows users to bet on which party takes control of the U.S. Congress.
The US will find the ‘right outcome’ for crypto, eventually – Coinbase CEO
In an interview with WSJ, Coinbase CEO, Brian Armstrong, explained that entrepreneurs who left the United States will return when the government finds the “right outcome” for crypto regulation.
U.S. House Republicans Push for Crypto Oversight With Bill to Make SEC Play Ball
Crypto exchanges would gain a path to registering with the U.S. Securities and Exchange Commission (SEC) and would be able to trade digital securities, commodities and stablecoins all in one place under a proposal from the Republican chairs of the two House of Representatives committees trying to hash out a bill.
