Express
CFTC Accuses 12 Crypto Option Companies Of Not Registering As Futures Commission Merchants
Summary: The US Commodity Futures Trading Commission (CFTC) filed a lawsuit against 14 companies on Wednesday on the grounds that they were either not registered as futures commission merchants (FCM) or falsely and misleadingly claimed to have CFTC registration and the National Futures Association ( NFA) membership. Among them, 12 companies provide binary options services based ...
The US Commodity Futures Trading Commission (CFTC) filed a lawsuit against 14 companies on Wednesday on the grounds that they were either not registered as futures commission merchants (FCM) or falsely and misleadingly claimed to have CFTC registration and the National Futures Association ( NFA) membership.
Among them, 12 companies provide binary options services based on foreign currencies and cryptocurrencies, as well as encourage customers to transfer funds or assets to them.
The CFTC supervises the commodity futures market other than the spot market of commodities such as Bitcoin. Companies that provide commodity futures contracts to US users need to register with the CFTC. Spot cryptocurrencies such as Bitcoin are usually registered as money service businesses at the state level in the United States.
By Mary Liu
Tags: CFTC,Option
Link: CFTC Accuses 12 Crypto Option Companies Of Not Registering As Futures Commission Merchants [Copy]
