Latest news with #USCommodityFuturesTradingCommission
Yahoo
28-03-2025
- Business
- Yahoo
CFTC Pulls Advisory on Review of Risks Tied to Digital-Asset Clearing
(Bloomberg) -- The US Commodity Futures Trading Commission is scaling back scrutiny of risks tied to clearing and trading of digital assets, bringing the reviews in line with other assets supervised by the agency. Why Did the Government Declare War on My Adorable Tiny Truck? Gold-Rush Fever Returns to Historic New Zealand Mining Town How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes The CFTC is withdrawing two staff advisories immediately to ensure there's no suggestion that 'regulatory treatment of digital asset derivatives will vary from its treatment of other products,' the agency said in a statement Friday. In practice, the change could make it easier for digital asset firms to list crypto futures. The action affects an advisory on trading from 2018 and one about clearing from 2023. Of the former, the agency said the advisory is no longer needed because its staff had gained enough experience with virtual currency derivative products over the years. The same principles still apply for listing any derivative products, including the idea that a product must not be readily susceptible to manipulation, the agency said. The withdrawal won't impact the CFTC's ability to oversee clearing and avoidance of systemic risk in derivatives markets, it said. (Updates with context throughout.) Business Schools Are Back Google Is Searching for an Answer to ChatGPT Israel Aims to Be the World's Arms Dealer A New 'China Shock' Is Destroying Jobs Around the World Trump's IRS Cuts Are Tempting Taxpayers to Cheat ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
29-01-2025
- Business
- Bloomberg
Overseas Firms to Pay $451.6 Million in US Bogus Options Case
Three Israeli citizens and their offshore businesses were ordered by a federal judge to pay $451.6 million in connection with an international binary-options fraud case brought by a US derivatives watchdog. The penalty was imposed by Judge Jeremy Daniel of the US District Court for the Northern District of Illinois after the US Commodity Futures Trading Commission in 2019 accused the firms and their leaders of peddling illegal, off-channel options trades that led to customers losing millions of dollars.
