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CFTC promises to protect ‘the burgeoning markets for digital assets such as Bitcoin’

CFTC promises to protect 'the burgeoning markets for digital assets such as Bitcoin'

On Friday, the Commodity Futures Buying and selling Fee made a fraudster pay again $7.four million to traders whereas vowing to guard the Bitcoin market.

Per the CFTC’s announcement, James McDonald, Director of the fee’s enforcement division, stated

The CFTC will proceed working to guard our markets, together with the burgeoning markets for digital property corresponding to Bitcoin, from fraudulent schemes, and can work in parallel with our felony legislation enforcement colleagues the place acceptable.

In the present day’s announcement issues Jon Barry Thomson, who pleaded responsible to commodities fraud for convincing two traders to ship him over $7 million for a Bitcoin funding scheme that by no means materialized. It follows a broader pattern this week, which has seen an extremely energetic CFTC take the helm of numerous enforcement actions within the crypto markets. 

Simply yesterday, the CFTC filed expenses towards Seychelles-domiciled crypto alternate Bitmex for failure to register as a derivatives alternate within the U.S.

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