The U.S. Commodity Futures Trading Commission (CFTC) has issued orders against the operators of three decentralized finance (defi) protocols. The regulator accused them of committing various violations of commodity laws including illegal trading of digital asset derivatives. U.S. Commodities Regulator Settles Charges Against Defi Protocols Opyn, Zeroex, Deridex The CFTC has taken action regarding three…
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A United States Federal Court Judge has ordered the collapsed bitcoin investment platform Mirror Trading International to pay over $1.7 billion in restitution. Commodity Futures Trading Commission director of enforcement Ian McGinley said the CFTC will not hesitate to go after fraudsters who target U.S. citizens. The Commission again warned that court rulings are not…
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A commissioner with the Commodity Futures Trading Commission (CFTC) has proposed the “first-ever” pilot program in the U.S. “to support the development of compliant digital asset markets and tokenization.” The regulator emphasized: “Our principles-based framework is built for innovation in technology, new products, and market structure.” ‘Time-Limited CFTC Pilot Program’ for Crypto Commodity Futures Trading…
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Binance CEO Changpeng Zhao says DeFi will outpace CeFi in the next bull run, but the Bank for International Settlements is skeptical. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in the…
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Close to half of asset managers currently have digital assets under management, according to a new study. Firms large and small are implementing crypto strategies for clients and expanding offerings. Asset Managers Embrace Crypto: 48% Now Manage Digital Assets The study by digital currency data provider Amberdata with Coalition Greenwich finds that 48% of institutional…
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The commissioner advocated public and stakeholder engagement through rulemaking, not just enforcement. United States Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger said she is concerned that the agency is considering enforcement actions related to decentralized finance (DeFi) protocols rather than engaging with the public. In a public statement issued on Sept. 7, the commissioner…
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Commissioner Caroline Pham called for the pilot program to kick off with a stakeholder roundtable and for the CFTC to propose and adopt rules on the risks retail investors face. Caroline Pham, a commissioner with the United States Commodity Futures Trading Commission (CFTC), has suggested a limited pilot program in an effort to address crypto…
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United States District Court Judge Katherine Polk Failla is also the judge overseeing the SEC’s lawsuit against crypto exchange Coinbase. A United States District Court judge has called Ether (ETH) a commodity in her dismissal of a class action lawsuit against the decentralized exchange Uniswap. In an Aug. 30 dismissal order of the case brought…
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A recent ruling by a U.S. judge declared that Tornado Cash holds the legal status of a “person.” This development came on the heels of a previous verdict in June, which recognized the decentralized autonomous organization Ooki DAO in a similar manner. U.S. Judiciary Designates Tornado Cash as ‘Person’ in OFAC Case In a legal…
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Coinbase, a prominent cryptocurrency exchange, has recently received the green light from the National Futures Association (NFA) to extend its services to include investment opportunities in cryptocurrency futures for eligible clients within the United States. On August 16, Coinbase proudly announced that it had been granted official authorization to function as a Futures Commission Merchant…
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