CFTC touts record digital asset results in FY23 enforcement recap
By 
Kyle Brasseur2023-11-07T19:35:00
The Commodity Futures Trading Commission (CFTC) solidified its view that it should be a primary regulator of cryptocurrencies with a record amount of cases regarding the digital asset space in fiscal year 2023.
The agency brought 47 actions involving conduct related to digital asset commodities, representing nearly 50 percent of its 96 total enforcement actions filed during FY23, the CFTC announced in a press release Tuesday. The release included a table summary of FY23 cases brought by category.
Fifty-nine cases related to fraud charges; 12 to reporting and recordkeeping violations; and nine to failures in supervision, financial integrity, and business conduct. Of the fraud cases, 17 also included charges of failing to register, while 10 of the reporting and recordkeeping cases additionally accused firms of supervision failures.
Related articles
-
News BriefCFTC proposes guidance for voluntary carbon credits
The Commodity Futures Trading Commission promoted the need for developing high-integrity voluntary carbon markets in publishing proposed guidance for the listing of voluntary carbon credit derivative contracts.
-
PremiumBinance’s compliance past, future detailed
There are a slew of compliance lessons to be learned from the $4.3 billion settlement that Binance, the world’s largest cryptocurrency exchange, reached with the U.S. government.
-
News BriefBinance pleads guilty, fined $4.3B over widespread U.S. law violations
Federal agencies hit Binance with more than $4.3 billion in penalties and imposed multiple compliance monitorships on the virtual currency exchange as punishment for its repeated and intentional violations of U.S. anti-money laundering laws, sanctions, and other regulations.
More from Regulatory Enforcement
-
News BriefTexas sues Johnson & Johnson, Kenvue over alleged misleading marketing of Tylenol
Texas Attorney General Ken Paxton sued two pharmaceutical companies for ”deceptively marketing Tylenol to pregnant mothers” despite risks linked to autism. The filing came two days before HHS Secretary Robert F. Kennedy Jr. appeared to walk back the claims.
-
News BriefCFPB scraps bad-actor registry, citing cost-benefit issues
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
-
ArticleSenate Democrats question Vought on comments about closing CFPB in months
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.