Latest News
By Federal Newswire | Apr 18, 2024
Commissioner Kristin N. Johnson will participate as a lead discussant at the Institute of International Finance’s AI & Data Roundtable. The event, scheduled for Thursday, April 18, 2024, at 2:00 p.m. (ET), will take place at the Offices of WilmerHale in Washington, DC.The Roundtable will feature AI leaders, policymakers, and financial service executives for a dialogue about new developments in artificial intelligence, links with data policy, and implications for growth and opportunity. It aims to bring together experts in the field to discuss the latest advancements and...
By Federal Newswire | Apr 18, 2024
Commissioner Caroline D. Pham is set to participate in a panel discussion titled "Enabling the Next Generation of Financial Markets and Innovation" at the Harvard Law School—Program on International Financial Systems (HLS-PIFS) Symposium. The event, focused on Building the Financial System of the 21st Century: An Agenda for Europe and the United States, will take place on April 18, 2024, at 2:30 p.m. (EDT) at JW Marriott in Washington, DC.Pham's involvement in the symposium underscores her commitment to exploring and shaping the future of financial markets and innovation....
By Federal Newswire | Apr 17, 2024
Chairman Rostin Behnam is set to participate in an interview at the upcoming ISDA’s 38th Annual General Meeting. The event is scheduled to take place on Wednesday, April 17, 2024, at 11:05 a.m. Tokyo time (JT), which is Tuesday, April 16, 2024, at 10:05 p.m. USA Eastern Time (ET). The venue for the meeting will be the Grand Hyatt in Tokyo, located at 6 Chome-10-3 Roppongi, Minato City, Tokyo, 106-0032, Japan.Behnam's participation in the interview at the ISDA Annual General Meeting is anticipated to provide insights and perspectives on significant matters concerning the...
By Federal Newswire | Apr 17, 2024
Roslyn Layton, Executive Vice President of the independent consultancy firm Strand Consult, has critiqued the U.S. Securities and Exchange Commission's (SEC) approach to the cryptocurrency industry. In an opinion piece published by DC Journal on April 3 titled "The SEC Came to Destroy Crypto, Not to Regulate It", she stated that the SEC's approach "is not designed to protect investors from fraud or even to clarify what legal compliance means."
By Federal Newswire | Apr 17, 2024
The Blockchain Association has voiced its support for the newly introduced Lummis-Gillibrand Payment Stablecoin Act. In a statement released on Apr 17 2024, Blockchain Association CEO Kristin Smith expressed appreciation for the bipartisan effort put forth by Sens. Lummis and Gillibrand in addressing a legislative gap in the digital asset ecosystem.Smith stated, “We appreciate their bipartisan approach to address a legislative gap in the digital asset ecosystem. Blockchain Association is ready – supported by the expertise of our members – to provide feedback and we look...
By Federal Newswire | Apr 17, 2024
The Financial Crimes Enforcement Network (FinCEN) has renewed its Geographic Targeting Orders (GTOs) aimed at identifying the natural persons behind shell companies used in non-financed purchases of residential real estate. The terms of the GTOs will be effective from April 19, 2024, to October 15, 2024.According to FinCEN, the GTOs provide valuable data on the purchase of residential real estate by individuals potentially involved in illicit activities. By renewing these orders, FinCEN aims to enhance efforts in tracking illicit funds and criminal activities, as well as...
By Federal Newswire | Apr 17, 2024
Commissioner Goldsmith Romero is set to participate in the European Securities and Markets Authority’s roundtable hosted by Georgetown University Law Center on April 17, 2024. The event will take place at Georgetown University Law Center in Washington, DC from 3:15 p.m. to 4:30 p.m. (EDT).The participation of Commissioner Goldsmith Romero in this roundtable signifies a significant collaboration between regulatory bodies and academic institutions. This event will provide a platform for dialogue and discussion on important issues within the financial and securities sectors....
By Federal Newswire | Apr 17, 2024
Commissioner Caroline D. Pham is scheduled to participate in a fireside chat on recent CFTC developments and policy agenda. The event is set to take place at Steptoe LLP in Washington, D.C. on Wednesday, April 17, 2024, at 3:00 p.m. (EDT).The event, hosted by the D.C. Bar and Steptoe LLP, will feature a discussion with Commissioner Pham, providing insights into the latest developments and the policy agenda of the Commodity Futures Trading Commission (CFTC).According to event information, there will be an opportunity for networking during the fireside chat with...
By Federal Newswire | Apr 15, 2024
Washington, D.C. — The Commodity Futures Trading Commission today announced the entry of a consent order in the U.S. District Court for the Eastern District of California imposing restitution and a civil monetary penalty against Eshaq M. Nawabi, d/b/a/ Nawabi Enterprise, and Hyperion Consulting Inc. The order requires the defendants to pay $4.5 million in restitution to victims of the fraud and a $4.5 million civil monetary penalty. According to the CFTC, "Today’s order fully resolves the CFTC action filed on April 26, 2022."The CFTC also emphasized the challenges in...
By Federal Newswire | Apr 15, 2024
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and the Department of State's Diplomatic Security Service (DSS) have jointly issued a Notice to financial institutions regarding the increasing use of counterfeit U.S. passport cards in identity theft and fraud schemes.FinCEN Director Andrea Gacki expressed gratitude for the partnership with DSS, stating, "FinCEN appreciates our partnership with DSS to highlight what is a concerning increase in the use of U.S. passport cards by illicit actors to impersonate and defraud individuals at...
By Federal Newswire | Apr 15, 2024
Chairman Rostin Behnam is set to address global regulatory priorities at the upcoming ISDA’s 38th Annual General Meeting. The event is scheduled for Tuesday, April 16, 2024, from 3:50 p.m. to 4:15 p.m. (Tokyo time) at the Grand Hyatt in Tokyo, Japan. Following Behnam's remarks, a question and answer session will take place, allowing attendees to engage further with the discussion on global regulatory priorities within the financial sector. The meeting promises to be an insightful gathering, providing valuable insights into the current regulatory landscape and potential...
By Federal Newswire | Apr 15, 2024
Nicholas Anthony, a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, stated that the Nigerian government is "looking for anything other than its own actions to blame" for the fall of the naira. He suggested that they have "somehow named Binance as the culprit," resulting in the detention of two Binance employees. Anthony shared his statement on the Cato Institute's website on April 11.
By Federal Newswire | Apr 15, 2024
Henri Arslanian, co-founder and managing partner of the cryptocurrency-focused hedge fund Nine Blocks Capital Management, has expressed concern over the detention of Tigran Gambaryan, an American citizen and Binance employee. According to a post made by Arslanian on March 30, Gambaryan, who is also a former U.S. federal agent, "has dedicated his life to fighting crime and upholding the rule of law" and must be repatriated.
By Federal Newswire | Apr 11, 2024
Dante Disparte, the Chief Strategy Officer and Head of Global Policy at Circle, a financial technology firm and stablecoin issuer, has stated that the majority of "illicit" cryptocurrency activities involve a small number of "entities, products or other services." Disparte made these comments in an opinion piece titled "Crypto Does Not Have an Illicit Finance Problem, Bad Actors Do," published by CoinDesk.
By Federal Newswire | Apr 11, 2024
Chairman Rostin Behnam delivered the opening remarks at the CFTC and the Center for Risk Management Education and Research (CRMER) at Kansas State University AgCon 2024 on April 11, 2024. Behnam expressed his pride in leading the return of the conference, emphasizing the importance of engaging with agricultural stakeholders to find solutions for America's farmers and ranchers.Highlighting the role of futures markets during challenging times, Behnam acknowledged the impact of external factors on commodity markets, such as supply chain breakdowns and geopolitical risks....
By Federal Newswire | Apr 11, 2024
The Commodity Futures Trading Commission (CFTC) announced that the U.S. District Court for the District of Nevada has sanctioned Daniel Shak of Las Vegas, Nevada, for engaging in spoofing and manipulative schemes in the gold and silver futures markets. The court entered a consent order on April 9, resolving the charges brought against Shak by the CFTC.According to the CFTC, Shak has been imposed with a $750,000 civil monetary penalty and is permanently prohibited from trading in commodity interests or registering with the CFTC in any capacity. Additionally, he is required...
By Federal Newswire | Apr 11, 2024
Ian McGinley, a prominent figure in regulatory compliance, addressed the New York City Bar Association Futures and Derivatives Committee Conference. McGinley expressed gratitude for the opportunity to speak to members of the derivatives bar, emphasizing the importance of self-reporting in regulatory matters.McGinley highlighted the significance of self-reporting as a means to uncover misconduct that may go unnoticed otherwise. He stressed that self-reporting not only reveals specific wrongdoing but also acts as a deterrent to future misconduct. McGinley acknowledged the...
By Federal Newswire | Apr 10, 2024
Senators Thom Tillis (R-NC) and Bill Hagerty (R-TN) released the Ensuring Necessary Financial Oversight and Reporting of Cryptocurrency Ecosystems (ENFORCE) Act as a proposed solution to the U.S. Treasury’s inquiry into stronger legislation to address digital asset anti-money laundering and more secure treatment of digital assets.
By Federal Newswire | Apr 10, 2024
Chairman Rostin Behnam will be taking part in a lecture at the University of Chicago Law School on April 10, 2024. The event is scheduled to take place from 5:00 p.m. to 6:00 p.m. (CT) and 6:00 p.m. to 7:00 p.m. (ET) at the University of Chicago School of Law, located at 1111 East 60th Street, Room C in Chicago, Illinois.Behnam's participation in the lecture at the prestigious law school is anticipated to be insightful and informative. This event provides an opportunity for students, faculty, and attendees to engage with Chairman Behnam on various legal and regulatory...
By Federal Newswire | Apr 10, 2024
Leo Schwartz, author of the Fortune Crypto Proof of State newsletter, has expressed concern over the "non-response from the U.S. government" regarding the detention of U.S. citizen and Binance employee, Tigran Gambaryan, in Nigeria. Schwartz made these remarks in his April 4 newsletter.
