CFTC Accused 12 New York Cryptocurrency Companies of Failure to Register
The Commodity Futures Trading Commission (CFTC) has accused 12 New York-based cryptocurrency options companies of refusing to register with the regulator.
In a press release, the CFTC reported that 12 cryptocurrency-focused firms based in New York have not registered as futures commission (FCM) sellers.
The listed cryptocurrency options providers includes: Bitfxprofit, Star FX Pro, Smarter Signals, and BinanceFx Trade – the latter of which is not affiliated with the major global exchange Binance, despite its name.
Firms offering commodities through futures are required by law to register as FCM with the CFTC. The Commission regulates the volume of the derivatives markets, which includes futures contracts, options and swaps, but does not control the spot markets for ordinary traders.