Caroline D.Pham News

CFTC Commissioner Caroline D. Pham issued a statement Friday seemingly criticizing her own agency for its latest “aggressive enforcement action” following the agency’s KuCoin charges, saying it might “infringe upon the SEC’s authority.”

As of late, the Commodity Futures Trading Commission (CFTC) has adopted a resolute position against Binance, which is the biggest cryptocurrency exchange in the world. As the former Chief Executive Officer of Binance, Changpeng Zhao (CZ) has resigned from his position after entering a guilty plea to charges that include violating anti-money laundering laws in the United States. Binance has agreed to pay penalties totaling more than $4.3 billion as part of a deal with the authorities in the United States. Among them is the personal contribution of fifty million dollars made by Zhao. This case exemplifies the dedication of the Commodity Futures Trading Commission (CFTC) to enforce trading restrictions in the United States, especially against firms that let consumers in the United States to trade unregistered bitcoin derivatives.

The US Commodity Futures Trading Commission is showing no signs of letting up in its battle against crypto firms.

The Securities and Exchange Commission on 21 July initiated insider trading charges against a former Coinbase product manager, his brother, and his friend.

The principle of "same risk, same regulation" for crypto received further confirmation with the release Wednesday of new guidance on stablecoin arrangements (SAs). The guidance, issued by the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO), applies the Principles for Financial Market Infrastructures (PFMI) for payment, clearing and settlement systems to systemically important SAs that transfer stablecoins.