The Commodity Futures Trading Commission received a record number of tips from whistleblowers this year—and most were related to crypto, according to Commissioner Christy Goldsmith Romero.
The federal agency, which oversees commodities and has some regulatory power over crypto, has paid out $16 million in incentives to whistleblowers in 2023. The 1,530 tips it received are the highest of any year, according to the statement released on Tuesday.
“With the rise of crypto, more retail customers have come under the CFTC’s jurisdiction, making even more critical the efforts of the CFTC’s Whistleblower Program and the Office of Customer Education and Outreach,” Goldsmith Romero said in the statement.
Whistleblowers are eligible to receive between 10% and 30% of any monetary sanctions collected, according to the CFTC.
Very proud of these offices and their outsized results. As a former IG, I know firsthand how important whistleblowers
are. The CFTC could not fully protect customers and markets w/o them. Click to read about the highest # of tips, crypto tips & environmental fraud tips. https://t.co/C4I9tgnxRU— Commissioner Christy Goldsmith Romero (@CFTCcgr) October 31, 2023
The $16 million in incentives paid out included a $15 million payout to two whistleblowers “who provided significant information and assistance that led the CFTC to bring separate successful enforcement actions.” Additional details about the cases were not disclosed.
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