On March 26, 2024, the U.S. Commodity Futures Trading Commission (“CFTC”) filed a complaint (the “Complaint”) in the U.S. District Court for the Southern District of New York (“SDNY”) for injunctive and other relief against...more
4/8/2024
/ BSA/AML ,
CFTC ,
Commodities ,
Commodity Exchange Act (CEA) ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Services Industry ,
Futures Commission Merchants (FCMs) ,
Popular ,
Statutory Violations ,
Trading Platforms
On November 3, 2023, the Commodity Futures Trading Commission (“CFTC”) proposed to significantly amend the rules on investment of customer funds by futures commission merchants (“FCMs”) and derivatives clearing organizations...more
11/14/2023
/ CFTC ,
Comment Period ,
Commodity Exchange Act (CEA) ,
Customer Funds ,
Derivatives Clearing Organizations ,
Futures Commission Merchants (FCMs) ,
Investment ,
Proposed Rules ,
Public Comment ,
Regulatory Agenda ,
Regulatory Reform ,
Swaps
The Commodity Futures Trading Commission (the “Commission” or the ”CFTC”), on May 31, 2023 published an Advance Notice of Proposed Rulemaking (“ANPRM”), seeking public comment in connection with potential amendments to the...more
On March 27, the Commodity Futures Trading Commission (“CFTC”), the U.S. derivatives regulator, charged three Binance entities (collectively “Binance”) and its founder and chief compliance officer (“CCO”) with numerous...more
4/7/2023
/ CFTC ,
Commodities ,
Commodity Exchange Act (CEA) ,
Crypto Exchanges ,
Cryptocurrency ,
Derivatives ,
Digital Assets ,
Enforcement Actions ,
Financial Services Industry ,
Futures Commission Merchants (FCMs) ,
Statutory Violations ,
Trading Platforms
In its last regulatory action for 2022, on December 23, the U.S. Commodity Futures Trading Commission (“CFTC”) published its staff no-action letter No. 22-21 (“NAL”) allowing commodity brokers – Futures Commission Merchants...more
1/9/2023
/ Benchmarks ,
CFTC ,
Financial Institutions ,
Financial Instruments ,
Futures Commission Merchants (FCMs) ,
Interest Rates ,
Investment ,
Libor ,
New Guidance ,
Relief Measures ,
Secured Overnight Funding Rate (SOFR)
On September 27, the Commodity Futures Trading Commission (“CFTC”) issued orders to settle charges against 11 major U.S. and international financial institutions and their swap dealer (“SD”) and futures commission merchant...more
On September 22, the Commodity Futures Trading Commission (“CFTC”) asserted its jurisdiction over a decentralized autonomous organization (“DAO”) and its founders, signaling for the industry that even an unincorporated...more
9/30/2022
/ Blockchain ,
CFTC ,
Commodities ,
Commodity Exchange Act (CEA) ,
Decentralized Finance (DeFi) ,
Designated Contract Markets (DCMs) ,
Digital Assets ,
Enforcement Actions ,
Futures Commission Merchants (FCMs) ,
Regulatory Violations ,
Token Sales
On June 24, the Commodity Futures Trading Commission (“CFTC”) sanctioned Starberry Limited, a Cyprus entity, for operating in the U.S. as an unregistered futures commission merchant (“FCM”) and ordered it to pay $1.3 million...more
On May 25, 2022, the U.S. Commodity Futures Trading Commission (“CFTC”) conducted a public hearing to consider a request from LedgerX, LLC, d.b.a. FTX US Derivatives (“FTX”), to amend its order of registration as a...more