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Cointelegraph
Cointelegraph
Tom Hanks, MrBeast and other celebrities warn over AI deep fake scams
about 1 hour ago
Binance News
Binance News
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According to Cointelegraph, United States Commodity Futures Trading Commission (CFTC) chair Rostin Behnam discussed the agency's activity in the crypto sphere and the need for updated legislation at the Financial Industry Association Expo 2023 event in Chicago. He highlighted the CFTC Enforcement Division's efforts as a "nonstop drumbeat." In his keynote address, Behnam mentioned that his agency collected $6 billion in penalties in fiscal year 2023, with 45 of those enforcement actions involving digital asset-related misconduct, representing over 34% of the 131 such actions brought by the Commission since 2015. Behnam also discussed the precedent-setting litigation against Ooki DAO, which resulted in the closure of the decentralized autonomous organization (DAO) and a $643,542 penalty. The U.S. District Court for the Northern District of California found that the DAO was a "person" under the Commodity Exchange Act (CEA) of 1936. Behnam noted that the limits in the CEA create barriers to engaging in rulemakings and policy necessary for the agency's mission, forcing the CFTC to engage in resource-intensive quests for assurances that they are acting within the bounds of their intended remit. Behnam's statements contrasted with Securities and Exchange Commission chair Gary Gensler's position that Depression-era financial legislation should not be tampered with. Behnam also indirectly addressed limitations on the CFTC's enforcement authority, stating that he has continued to advocate for additional authority in the crypto space.

about 13 hours ago
TradeWithPiqziL
TradeWithPiqziL
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⚠️ TODAY'S Headlines ⚠️ 𝙃𝙚𝙧𝙚'𝙨 𝙬𝙝𝙖𝙩 𝙝𝙖𝙥𝙥𝙚𝙣𝙚𝙙 𝙩𝙤𝙙𝙖𝙮: - Sam Bankman-Fried Wanted to Pay Donald Trump $5 Billion to Not Run for President in 2024. - Grayscale Pursues Ethereum Spot ETF Amid ETH Futures ETF Boom. - Despite Government Shutdown Worries, Stablecoin Legislation Pushed by McHenry. - September 2023 Marks Record-High Crypto Exploits with $329 Million Stolen: Report. - Brazil to Issue Digital IDs for Its 214 Million Citizens Using Blockchain Technology. - Coinbase Attains Full License to Expand Crypto Payment Services in Singapore. - Kenyan Authorities Accuse Worldcoin of Espionage and Statehood Threats. FTX hacker moves total of $38M across several days. Open Exchange token plummets following Su Zhu's arrest. $BTC $ETH #crypto2023 #dyor 𝙎𝙚𝙚 𝙮𝙤𝙪 𝙖𝙡𝙡 𝙩𝙤𝙢𝙤𝙧𝙧𝙤𝙬 🫡

about 6 hours ago
CryptoFuture
CryptoFuture
followers

U.S. Senator Kirsten Gillibrand and U.S. Representative Darren Soto introduced a bill on September 29, 2023 that would require cryptocurrency companies to report off-chain transactions to the U.S. Commodity Futures Trading Commission (CFTC). The bill, called the Cryptocurrency Investor Transparency and Protection Act (CITA), focuses on off-chain transactions, which are cryptocurrency transactions that are not recorded on the blockchain. These transactions are more difficult to track and can be used for money laundering, tax evasion and other illicit activities. The bill would require cryptocurrency companies to report off-chain transactions in excess of $10,000 to the CFTC. Companies would also be required to keep records of these transactions for five years. The CFTC would use this information to investigate potential fraud, manipulation and other illicit activity in the cryptocurrency market. The CITA bill is an important step to protect crypto-investors from illicit activities. The new legislation will help the CFTC track off-chain transactions and take action against companies that engage in illicit activities. Here are some additional details about the CITA bill: It would require cryptocurrency companies to report off-chain transactions in excess of $10,000 to the CFTC. Companies would also be required to keep records of these transactions for five years. The CFTC would use this information to investigate potential fraud, manipulation and other illicit activity in the cryptocurrency market. The CITA bill has not yet been passed by Congress. However, it has the support of several consumer advocacy groups and the cryptocurrency industry.

3 days ago

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