Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » US Regulator CFTC Set To Go Hard On Cryptocurrency

    US Regulator CFTC Set To Go Hard On Cryptocurrency

    0
    By qaasim on October 21, 2022 News, Regulation News
    US Regulator CFTC Set To Go Hard On Cryptocurrency
    Share
    Facebook Twitter LinkedIn Pinterest Email

    In a bid to ensure compliance, the United States Commodity Futures Trading Commission (CFTC) says it will closely regulate and monitor the digital assets market in the 2022 fiscal year according to a new report. 

    The CFTC asserts that 20% of its enforcement actions were directed at the digital assets market so as to avoid undue shortchanging.

    The agency further reveals that it is behind 18 different enforcement actions that have been upheld in the crypto space this year alone. 

    CFTC

    The report unmasks the fact that a combination of 82 enforcement actions have been filed in 2022’s fiscal year with about $2.5billion imposed as severance package or civil monetary penalties. 

    It would be recalled that the CFTC recently imposed a $250,000 fine on bZeroX, its successor Ooki DAO as well as its founder. 

    Also, a Wisconsin broker was ordered to pay over $750,000 for improper trade allocation and additional violations.

    ENFORCEMENT NEWS: The CFTC ordered a Wisconsin broker to pay over $750,000 for improper trade allocation and additional violations. Learn more: https://t.co/iry99rcqja

    — CFTC (@CFTC) October 20, 2022

    However, the CFTC also found the cryptocurrency trading platform, Bitfinex, guilty of engaging in illegal and off -exchange retail commodity transactions in digital assets without acquiring the necessary license. 

    Tether Holdings Limited was also not spared as it was found to have rolled out misleading statements and deliberate omission of material fact as regards U.S. dollar tether token (USDT) stablecoin. 

    The CFTC chairman, Rostin Behnam, maintains that the agency will not relent in providing robust enforcement program that will guarantee transparency and fairness in the market. 

    More Crypto Regulations To Be Expected

    Prior to now, both the CFTC and US Securities and Exchange Commission (SEC) had contended against each other over the control of crypto asset regulations. 

    Recall that the crypto advocate Senators Cynthia Lummis and Kirsten Gillibrand earlier submitted a bill proposing that the CFTC should oversee crypto regulation, which they believe would work better for the crypto space.

    It appears Congress is less likely to focus its attention on digital asset regulation until sometime next year given the prevailing realities. 

    Meanwhile, Australia, Ukraine and other countries have mapped tokens as part of its crypto regulation. As such, Australia had begun investigation into cryptocurrency assets within the country. 

    blockchain BTC cryptocurrencies Featured United States
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    qaasim
    • X (Twitter)

    Salaam Rasak entered the crypto space while completing his Masters degree and has continued to dig deep into Web3 space since then, writing articles related to Web3 and blockchain. He started working with Blockchain Journal in September 2022.

    Related Posts

    SharpLink Gaming Revolutionizes the Market by Tokenizing Its Equity on the Ethereum Network

    September 25, 20253 Mins Read

    Plasma’s XPL Token Bursts onto the Market with a Capitalization Exceeding $2.4B

    September 25, 20253 Mins Read

    CFTC begins discussions on the use of tokenized collateral in derivatives markets

    September 24, 20252 Mins Read

    Japan Doubles Its Crypto Market Thanks to Tax and Regulatory Reforms, New Report Finds

    September 24, 20252 Mins Read

    SEC and Paul Atkins press ahead with 2025 crypto rules under Project Crypto

    September 23, 20252 Mins Read

    Gate Launchpad listed Plasma (XPL) with dual interest in GUSD

    September 23, 20252 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.