Category: cftc

Lawmakers Clash Over Regulation of Stablecoins

May 18, 2023
ArchivedBusiness & MarketscftccryptocryptocurrencyMarketsMaxine WatersNewsStablecoinstetherUSUS News
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House lawmakers took part in a contentious debate over how stablecoins should be regulated at a hearing held by the Financial Services Committee’s digital assets panel—where there were also some hopeful signs from both sides. At the heart of the debate on May 16 was the level of involvement of state regulators and the Federal…

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Crypto Platform Binance Sued by CFTC Over ‘Secret Plot’ to Evade US Laws

March 27, 2023
binanceBusiness & MarketscftcCompaniescryptocurrencylawsuitMarketsUSUS News
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The Commodity Futures Trading Commission (CFTC) has sued crypto platform Binance and several top executives, alleging that they offered unregistered crypto futures and other derivatives for trading in the United States in violation of U.S. laws and devised a “secret plot” to help customers evade restrictions. Binance stands accused of running a cryptocurrency derivatives-trading operation…

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Financial Regulatory Bodies Vie for Power Over Crypto Industry

December 8, 2022
Business & MarketscftcCompaniescryptocryptocurrencyFTXInvestmentMarketsUSUS News
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The FTX collapse has reignited a power struggle between the two federal agencies—the Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Many in the crypto business have pointed to the fact that the two agencies have been battling for domain over digital assets for a long time, which may be one of…

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Bankman-Fried Pushed for Crypto Regulation in Weeks Leading Up to FTX Bankruptcy

November 23, 2022
Bankman-FriedBusiness & MarketscftcCompaniescryptocurrencyeconomic policieseconomyFTXMarketsPolicies & ImpactsSECTechUSUS News
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One month prior to the catastrophic collapse, prominent crypto investors accused FTX founder Sam Bankman-Fried of “quietly lobbying” regulators. For well over a year, the former billionaire offered various suggestions, in interviews and in policy papers, as to how D.C. officials might police the nascent industry. Legislative influence runs in the family. His father, Joseph…

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Big Banks Face $1 Billion in Fines Over WhatsApp, Other Unapproved Message Tools, Says Report

August 22, 2022
bank regulationsBusiness & MarketscftcCompanieseconomic policieseconomyInvestmentMarketsPoliticsSECUSWhatsapp
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Major banks such as JPMorgan Chase, Citigroup, and Bank of America are collectively facing more than $1 billion in regulatory fines, after employees used unapproved communication tools, such as private email and messaging apps like WhatsApp. The U.S. Securities and Exchange Commission (SEC) discovered the violations after probing several banks’ record-keeping practices relating to the use…

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US Commodities Regulator Charges South African Company With Record $1.7 Billion Bitcoin Fraud

July 2, 2022
Business & Marketscftccivil chargesCompaniescryptocurrencyMarketsSouth Africa
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WASHINGTON—The U.S. commodities regulator announced on Thursday it had filed civil charges against a South African man and his company for operating a fradulent commodity pool worth over $1.7 billion in bitcoin. The Commodity Futures Trading Commission (CFTC) said the fraud scheme, which saw the firm solicit bitcoin online from thousands of people to purportedly…

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US Dollar Net Longs Jump to Highest Since Mid-June 2019: CFTC

December 4, 2021
.NetAsia & PacificAustraliaBusiness & EconomyBusinesses in COVID-19CCP ViruscftcDollareconomic policieseconomyEuropeGold & CommoditiesinflationInternationalInvestmentlongmarketMarket WatchMarketsUKUSUS NewsWorld
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NEW YORK—Speculators’ net long positioning on the U.S. dollar in the latest week soared to its highest level since mid-June 2019, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $23.99 billion for the week ended Nov. 30, up from…

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US Dollar Net Long Bets Jump to Largest Since Mid-June 2019: CFTC

October 9, 2021
AmericasAsia & PacificAustraliaBusiness & EconomyCanadacftcChinaChina Business & EconomyDollarEconomieseconomyEuropeInternationalJumplargestMarketsUKUSUS NewsWorld
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NEW YORK—U.S. dollar net longs in the latest week surged to their highest level in more than two years, according to Reuters calculations and Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $22.89 billion in the week ended Oct. 5, compared with $16.37 billion in the…

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