A crypto firm has been fined $ 1.1 million for deceiving customers and misusing funds, as the CFTC highlights growing concerns about unregistered investment schemes. CFTC Strikes: Fraudulent Crypto Firm Banned, $ 1.1 Million Fine Issued The Commodity Futures Trading Commission (CFTC) announced on Monday that Mosaic Exchange Ltd. and its CEO, Sean …
An Australian court fined Kraken $ 5.1 million AUD for offering a margin lending product to Australian customers without proper regulatory approval. Unlawful Credit Facility An Australian court has fined the digital asset exchange platform Kraken $ 5.1 million Australian dollars (AUD) for “unlawfully issuing a credit facility to more than 1,100 Australian …
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler was slammed by the crypto community for stating: “We are not prosecutors of honest business, nor defenders of crookedness.” Many crypto advocates pushed back against Gensler, arguing that the SEC under his leadership has taken legal action against honest businesses, like Ripple and LBRY, while protecting […]