RATE Group | CFTC Cracks Down Harder on Cryptocurrency Fraud Under Trump
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CFTC Cracks Down Harder on Cryptocurrency Fraud Under Trump

09 Oct CFTC Cracks Down Harder on Cryptocurrency Fraud Under Trump

Posted at 04:27h in Cryptocurrency News by

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bitcoin cryptocurrency crime fraud jail

The Commodity Futures Trading Commission (CFTC) has bolstered its police actions in the last fiscal year, driven largely by cryptocurrency cases, according to The Wall Street Journal. Under President Trump, the federal derivatives market regulator levied about $900 million in civil penalties in 2018 alone, exceeding the annual amount in five of the eight years of the Obama administration. The amount had declined in 2017, drawing criticism from consumer groups and some Democrats.

Gary DeWaaal, a former CFTC enforcement lawyer who is now special counsel at Katten Munchin Roseman LLP, told the WSJ that the agency knows cryptocurrency fraud is an issue, along with insider trading and manipulation, and has focused on spoofing.

CFTC More Vigorous Than Ever

J. Christopher Giancarlo, the CFTC chairman, extolled the agency’s enforcement activity numbers…

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