The Commodity Futures Trading Commission (CFTC) imposed over $2.5 billion in enforcement penalties in fiscal year 2022, according to its annual report.
The penalties were assessed through either restitution, disgorgement, or civil monetary penalties and were achieved through either settlement or litigation. Overall, the commission filed 82 enforcement actions involving fraud, manipulation, reporting, supervision, and misconduct, among other violations.
“In the face of unprecedented financial market conditions directly impacting American consumers, emerging technological disruption, and growing retail investor participation, the CFTC continues its unwavering commitment to a robust enforcement program ensuring the markets we oversee are open, transparent, fair, and competitive,” CFTC 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.”
Infractions related to digital assets accounted for about 20 percent of the overall cases. Among them, the commission Digitex Futures with illegally offering futures transactions on a platform that is not a designated contract market (DCM). They were also charged with attempting to manipulate the price of the Digitex Futures native token and failing to implement a Customer Identification and Anti-Money Laundering program....
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