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Felix Shipkevich December 21, 2017

Mintco Precious Metals Traders Fined and Banned by CFTC Court Order Federal Court sides with CFTC Enforcement Actions filed on September 2015 against Florida-based Mintco LLC and their owners Stuart Rubin and Richard Q. Zimmerman. Consent Orders by Federal Judge Beth F. Bloom fines Mintco $250,000 and Zimmerman $45,000, as well as a 3-year trading […]

Felix Shipkevich December 19, 2017

This month the National Futures Association announced to its members additional reporting requirements for Bitcoin or cryptocurrency soliciting, orders, trading, and offering such products. The notice to members was address to Introducing Brokers (IBs), Commodity Pool Operators (CPOs), Commodity Trading Advisors (CTA), and Futures Commission Merchant (FCMs) for which the NFA is the DSRO. Any of these […]

Felix Shipkevich December 19, 2017

The CFTC defines its authority over retail commodity transactions involving virtual currency and Bitcoin after it brought enforcement actions against Bitfinex for not meeting “actual delivery” exemption. On Friday 15th 2017 the CFTC released a Proposed Interpretation of its view of the term “actual delivery” exception that may apply to virtual currency transactions under the Commodity […]

Felix Shipkevich December 18, 2017

RED List Identifies Entities Operating Illegally for Binary Options and Forex Washington, DC — As part of the Commodity Futures Trading Commission’s (CFTC) ongoing efforts to help protect Americans from fraud, today the CFTC added 21 new names to the Registration Deficient List (RED List). These 21 new additions bring the total number of foreign entities […]

Felix Shipkevich December 18, 2017

Washington Federal Bank for Savings, Chicago, Illinois, was closed today by the Office of the Comptroller of the Currency, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Royal Savings Bank, Chicago, Illinois, to assume the insured deposits of […]

Felix Shipkevich December 15, 2017

Understand the Risks of Virtual Currency Trading The U.S. Commodity Futures Trading Commission (CFTC) is issuing this customer advisory to inform the public of possible risks associated with investing or speculating in virtual currencies or recently launched Bitcoin futures and options. Virtual currency is a digital representation of value that functions as a medium of […]

Felix Shipkevich December 15, 2017

Today the CFTC made an announcement of its brand new Virtual Currency Resource Webpage. It focuses primarily on Bitcoin, as denoted by the webpage address, cftc.gov/bitcoin, but it serves as an annex of all cryptocurrency activity by the Commission. After an introductory paragraph on Bitcoin and cryptocurrency, the page has links to CFTC documents such as LabCFTC’s […]

Felix Shipkevich December 13, 2017

Securities and Exchange Commission (SEC) Chairman Jay Clayton released a public announcement regarding Initial Coin Offerings ( ICO ) which gave advise to investors looking into ICOs on Monday, December 11, 2017. CFTC’s own Chairman, J. Christopher Giancarlo, commended Chairman Clayton’s statement: Washington, DC — Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo issued the following […]

Felix Shipkevich December 12, 2017

The CFTC’s Division of Swap Dealer and Intermediary Oversight responded to a letter from the Futures Industry Association (FIA) requesting guidance for Commodity Trading Advisor (CTAs) registration requirements. The Division stated in a staff letter that commodity trading advice conducted “solely incidental” to a profession, or “solely in connection with” business is not subject to […]

Felix Shipkevich December 12, 2017

Last week the European Commission (EC) and the CFTC announced mutual recognition of each other’s derivatives trading venues, fulfilling the Common Approach announced this October the 13th, 2017 by the two regulatory agencies. On Tuesday, December 5, 2017 the EC announced it adopted an equivalence decision to recognize certain trading venues authorized by the CFTC […]