There has been much publicity around the cases that the U.S. Commodity and Futures Trading Commission (āCFTCā) has brought against exchanges, such as Binance. Those cases, according to the CFTC, were meant to demonstrate that the CFTC would not tolerate digital asset exchanges that fail to register with the CFTC or comply with the agencyās rules concerning the derivatives markets. On May 13, 2024, the CFTC went one step further down the chain in, for…
On March 11, 2019, the U.S. Commodity Futures Trading Commission (CFTC) announced that it had entered into a Consent Order resolving a CFTC action against 1pool Ltd., located in the Marshall Islands, and its chief executive officer and owner, Patrick Brunner, for illegally offering retail commodity transactions that were margined in bitcoin, failing to register as a futures commission merchant (FCM), and failing to meet its supervisory duties by not having the required anti-money laundering…