CFTC

SEC loses a battle to win the war? Ripple dissociates from pumping XRP

When the United States Securities and Exchange Commission filed legal action against Ripple Labs and its top-two executives in December, alleging that its XRP coin was in fact a security and that the firm had raised over $1.38 billion through an unregistered securities offering in 2013, many wondered if XRP would even survive.  Some exchanges …

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Following $6.5 million CFTC fine, Coinbase delays direct stock listing

After settling charges of improper reporting of exchange volume and “self-trading” with the CFTC yesterday, reports have emerged that cryptocurrency exchange giant Coinbase is set to push back its stock listing to next month. The company had previously been expected to go public some time in March.  Yesterday, March 19 the Commodity Futures Trading Commission …

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CZ responds to reports of Binance investigation: story has no “teeth”

Shortly after a Bloomberg report on Friday that cryptocurrency exchange Binance was under investigation for permitting US residents to place unlawful trades, Binance founder and CEO Changpeng Zhao (better known as CZ) dismissed the reports during a live AMA on Clubhouse, saying that the report had “no teeth.”  “This is a topic that just came …

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Yellen convenes SEC, CFTC and Fed leaders on Robinhood question

The four horsemen of U.S. financial regulation will meet to discuss market manipulation concerns resulting from the headline-grabbing drama surrounding GameStop stock last week.  Per a Feb. 2 report from the Wall Street Journal, Treasury Secretary Janet Yellen is gathering the leadership of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the …

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FBI arrests 24-year-old crypto trader for commodities and wire fraud

U.S. criminal authorities have brought criminal charges against a crypto trader who they say defrauded investors out of over $5 million.  The Department of Justice announced on Tuesday that it had arrested Jeremy Spence. Between 2017 and 2019, the 24-year-old Spence operated a crypto investment scheme under the name of “Coin Signals,” primarily via Twitter and Discord.  …

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Senate Confirms Janet Yellen as US Treasury Secretary

Janet Yellen is the 78th U.S. Secretary of the Treasury. The former Federal Reserve chair and longtime economist secured enough votes in the Senate on Monday after a confirmation hearing on Jan. 19. Yellen was tapped by President Joe Biden to lead the Treasury Department after winning election last year. She succeeds Steven Mnuchin, who …

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World’s Largest Asset Manager Blackrock to Invest in Bitcoin Futures

<div class=”featured_image_container”> </div> <strong>Blackrock, the world’s largest asset manager with $7.81 trillion under management, is getting into bitcoin. The firm has filed with the U.S. Securities and Exchange Commission (SEC) for two of its funds to invest in bitcoin futures.</strong> Blackrock Gets Into Bitcoin Blackrock filed two “statements of additional information” with the SEC on …

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BitMEX operator joins digital finance standards and advocacy organization

100x Group, BitMEX’s parent company and the holding structure for its platform, has joined Global Digital Finance, or GDF, a major industry association advocating for the adoption of digital assets. As a GDF patron board member, 100x will advocate for a more inclusive and better regulated digital financial system, BitMEX announced on Jan. 21. The …

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US federal regulators set new expectations for stablecoin issuers

A group of leading U.S. financial regulators has released a new statement on stablecoins. One of the headlining topics of crypto regulation news this year, stablecoins were the main topic of a Dec. 23 statement the President’s Working Group on Financial Markets, or PWG. The PWG includes representation from the Treasury, the Federal Reserve, the Securities …

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US authorities eager to deter citizens from unregistered crypto exchanges

Many overseas cryptocurrency exchanges would be happy to have U.S. traders as clients, but these days, American residents might as well have a sign around their necks reading “Danger: high voltage!” That’s been the case since Oct. 1, at least, when the United States Commodity Futures Trading Commission filed a complaint against Seychelles-registered BitMEX for …

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