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CFTC: 20% of enforcement actions in FY 2022 crypto-related

The Commodity Futures Trading Commission (CFTC) has released its enforcement actions report for the Fiscal Year 2022, detailing some of the top actions brought against crypto firms over the past year.

According to the report, CFTC obtained orders against 82 companies and others during the year, with 18 of these enforcement actions digital assets-related, the regulator said.

In total, the commodities markets’ watchdog imposed more than $2.5 billion in fines, 20% of which were crypto-related.

Bitfinex,Tether among those to face enforcement actions

In Fiscal Year 2022, CFTC’s Division of Enforcement filed actions against 18 crypto and crypto-related firms, including crypto exchange Bitfinex and stablecoin issuer Tether.

As per the report, the CFTC’s enforcement unit charged Bitfinex with engaging in illegal, off-exchange crypto retail commodity transactions involving US persons. The exchange reportedly also offered the services of a futures commission merchant (FCM) illegally.

Tether Holdings Limited, the issuer of USDT was fined $41 million over false or misleading statements related to its stablecoin.

CFTC also brought enforcement actions against Digitex Futures over price manipulation and set a precedent by charging a decentralised autonomous organisation (DAO). Also sued in 2022 was crypto exchange Gemini, with the action relating to a proposed bitcoin futures contract.

Chairman Rostin Behnam.said:

“This FY 2022 enforcement report shows the CFTC continues to aggressively police new digital commodity asset markets with all of its available tools. I personally thank the Enforcement Division’s hardworking and dedicated leadership team and staff.”

The post CFTC: 20% of enforcement actions in FY 2022 crypto-related appeared first on Invezz.

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