CFTC Financial News

Caroline Pham, a commissioner with the United States Commodity Futures Trading Commission (CFTC), has suggested a limited pilot program in an effort to address crypto regulation.

On Episode 27 of Hashing It Out, CoinRoutes CEO Dave Weisberger joins host Elisha Owusu Akyaw (also known as GhCryptoGuy) to discuss the current state of cryptocurrency regulation in the United States. Weisberger explains how the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) approach regulations and what they mean for the fast-evolving cryptocurrency space.

Coinbase, a prominent cryptocurrency exchange, has recently received the green light from the National Futures Association (NFA) to extend its services to include investment opportunities in cryptocurrency futures for eligible clients within the United States.

As confirmed via email from a Binance spokesperson on August 15, Binance Connect, the regulated buy-and-sell crypto arm of the Binance exchange, will shut down on August 16.

The Commodity Futures Trading Commission (CFTC) has taken legal action against four individuals and their organization, Fundsz, for their involvement in a fraudulent scheme related to cryptocurrencies and precious metals trading. 

Legal proceedings have been initiated by the Commodity Futures Trading Commission (CFTC) against individuals and their organization, Fundsz, citing their involvement in a deceptive scheme concerning cryptocurrencies and precious metals trading.

Bitcoin (BTC) surpassed the $30,000 resistance on June 21, or 40 days ago, after a notable 19.5% gain in a week. Since then, it has been moving within a range filled with occasional moderate corrections and BTC price trades near $29,300. While these consolidation periods are common in traditional markets, they tend to make crypto investors quite anxious.

Last week, the United States took a step closer to regulatory clarity for its crypto industry. In a 35–15 vote, the House Financial Services Committee (FSC) approved the Financial Innovation and Technology for the 21st Century Act. The bill is intended to establish rules for crypto firms on when to register with either the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC).

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Crypto exchange Binance and its CEO Changpeng “CZ” Zhao requested the dismissal of a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC).

The Commodity Futures Trading Commission (CFTC) has filed a complaint against a couple in Tennessee who convinced people to pay into an investment pool called “Blessings of God Thru Crypto.”

A Tennessee husband and wife are facing charges over “Blessings of God Thru Crypto” — an allegedly fraudulent investment scheme that swindled at least $6 million from over 100 victims in just six months.

Binance and its CEO and founder Changpeng Zhao are planning to seek dismissal of a Commodity Futures Trading Commission (CFTC) complaint accusing the crypto exchange of violating the Commodity Exchange Act and certain related federal regulations. Binance is due to submit its response to the CFTC complaint on July 27 and plans to seek dismissal, according to a court filing on Monday. The CFTC in March sued Binance, the world's biggest crypto exchange, and Zhao for operating what the regulator alleged was an «illegal» exchange and a «sham» compliance program. In its complaint, the CFTC said that from at least July 2019 to the present, Binance «offered and executed commodity derivatives transactions on behalf of U.S. persons» in violation of U.S. laws.

On July 24, Bitcoin experienced a flash crash, plummeting to $29,000 in a movement now attributed to significant Bitcoin holders potentially liquidating their positions. 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

The former chairman of the United States Commodity Futures Trading Commission (CFTC), Timothy Massad, highlighted the importance of government attention being paid to the stablecoin ecosystem in an interview with CNBC. 

Crypto exchange Binance and its CEO Changpeng "CZ" Zhao are planning to file a motion to dismiss a March-filed lawsuit from the United States commodities regulator.

Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.” 

The United States Government Accountability Office (GAO), a Congressional watchdog agency, has released a report it completed in June on the regulatory framework for the use of blockchain in finance. 

On Thursday, Senior House Republicans presented legislation to resolve the regulatory ambiguity surrounding the digital asset industry. 

A bill to create a regulatory framework for digital assets has been introduced by Republican members of the Agriculture and Financial Services Committees of the United States House, the result of several months of joint effort by the two committees.