Latest News
By Federal Newswire | Apr 25, 2024
Blockchain Association CEO Kristin Smith expressed strong support for Consensys in their legal battle against the Securities and Exchange Commission (SEC). Smith stated, "Blockchain Association – and the entire digital asset ecosystem – stands shoulder to shoulder with Consensys as they take the fight to the SEC, challenging the Commission’s ever-expanding overreach and aggression."Smith emphasized the significance of Consensys' lawsuit in defending the Ethereum ecosystem, highlighting its role as a platform for numerous innovations, including stablecoins. She pointed out...
By Federal Newswire | Apr 25, 2024
Commissioner Summer K. Mersinger has been announced as a participant in the Commodities/End-User Panel at FIA’s Law and Compliance Division Conference. The event is scheduled to take place on Thursday, April 25, 2024, from 3:45 p.m. to 4:45 p.m. (EDT) at the Gaylord National Resort & Convention Center in National Harbor, MD 20745.The panel discussion is anticipated to be a significant aspect of the conference, focusing on commodities and end-user perspectives in the industry. Commissioner Mersinger's involvement is expected to bring valuable insights and expertise to the...
By Federal Newswire | Apr 25, 2024
A federal court has ordered a California-based precious metals company, its CEO, and a senior salesperson to pay over $56 million for fraud in connection with precious metals sales. The order, entered by Judge R. Gary Klausner of the U.S. District Court for the Central District of California, requires the defendants to pay restitution, disgorgement, and civil monetary penalties totaling $56.35 million.According to the Commodity Futures Trading Commission (CFTC), the defendants engaged in a fraudulent scheme from November 2019 to June 2022, convincing at least 950 people...
By Federal Newswire | Apr 24, 2024
Washington, D.C. — Commissioner Christy Goldsmith Romero has announced that "AI Day" will be held at the Commodity Futures Trading Commission’s Technology Advisory Committee (TAC) meeting on May 2, 2024. The event will take place at the CFTC’s Washington, D.C. headquarters from 1:00 p.m. to 4:00 p.m. (EDT).According to Commissioner Romero, "AI Day is a continuation of the TAC’s study of AI, and the concept of Responsible AI in financial markets." The public is invited to attend the event in person or watch it via live webcast on CFTC.gov.Confirmed speakers for AI Day...
By Federal Newswire | Apr 24, 2024
Commissioner Christy Goldsmith Romero is set to participate in a panel discussion at FIA's Law & Compliance Conference. The panel, titled "AI and Machine Learning: The Unknown Future Rolls Towards Us," will take place on Wednesday, April 24, 2024, from 2:45 p.m. to 3:45 p.m. (EDT) at the Gaylord National Resort & Convention Center in National Harbor, MD.The event aims to delve into the implications of artificial intelligence and machine learning in the legal and compliance sectors. Commissioner Goldsmith Romero's participation underscores the importance of addressing the...
By Federal Newswire | Apr 23, 2024
Timothy Massad, former chairman of the U.S. Commodity Futures Trading Commission (CFTC), has warned that "stablecoins could have national security implications," advocating for stronger regulations in this area. Massad's statement was part of a research paper published by the Brookings Institution on April 17.
By Federal Newswire | Apr 23, 2024
Washington, D.C. — The Commodity Futures Trading Commission (CFTC) approved final rules to amend its swap execution facility (SEF) regulations related to uncleared swap confirmations to address issues which have been addressed in CFTC staff no-action letters, including the most recent CFTC No Action Letter No. 17-17, as well as associated conforming and technical changes. The final rules are effective 30 days after publication in the Federal Register. Upon the effective date of the final rules, CFTC No Action Letter No. 17-17 will expire.
By Federal Newswire | Apr 23, 2024
The Blockchain Association (BA) and the Crypto Freedom Alliance of Texas (CFAT) have taken legal action against the Securities and Exchange Commission (SEC) by filing a lawsuit in the Northern District of Texas. The lawsuit aims to challenge the SEC's "Dealer Rule" expansion, which the plaintiffs argue poses a threat to the American digital asset industry and innovation.According to the complaint, the SEC's expansion of the Dealer Rule is deemed unlawful and arbitrary, violating the Administrative Procedure Act (APA). The rulemaking process was criticized for lacking...
By Federal Newswire | Apr 22, 2024
On April 22, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a reminder to financial institutions to stay alert in detecting and reporting suspicious activities linked to environmental crimes. The call comes as the nation observes Earth Day, emphasizing the importance of safeguarding the environment.According to FinCEN, environmental crimes often involve cross-border criminal operations associated with various Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) National Priorities, such as corruption, fraud, human trafficking, and drug...
By Federal Newswire | Apr 22, 2024
Washington, D.C. — Commodity Futures Trading Commission Chairman Rostin Behnam has announced that "The Commission will hold an open meeting on Monday, April 29 at 9:30 a.m. (EDT) at the CFTC’s Washington, D.C. headquarters." The meeting will take place at the CFTC Headquarters Conference Center located at Three Lafayette Centre, 1155 21st Street N.W., Washington, D.C. 20581.The public is invited to attend the meeting in person, listen by phone, or view a live stream at CFTC.gov. Those interested in participating virtually can access the live meeting feed through dial-in...
By Federal Newswire | Apr 22, 2024
Washington, D.C. — The Commodity Futures Trading Commission has announced an extension of the public comment period deadline for a proposed rule addressing governance and conflicts of interest within designated contract markets and swap execution facilities. The deadline for submitting comments has been pushed back to May 13, 2024, as stated by the Commodity Futures Trading Commission.The proposed rule, which introduces modifications to rules for SEFs and DCMs in Part 37 and 38, aims to establish governance requirements related to market regulation functions and conflicts...
By Federal Newswire | Apr 19, 2024
Julie Singleton, Communications Director for Congressman Rich McCormick (GA-06), stated that the Congressman is "working with the appropriate officials" to secure the release of Tigran Gambaryan, Head of Financial Crime Compliance at Binance. Gambaryan was detained by the Nigerian government on February 26. Singleton relayed her statement to Federal Newswire on April 17.
By Federal Newswire | Apr 19, 2024
Bjorn Solstad, CEO of Devenia, a digital marketing firm, recently commented on Changpeng Zhao (CZ), the co-founder and former CEO of cryptocurrency exchange Binance. In an April 15 post, Solstad said that CZ is "among the most important drivers of innovation in the crypto space."
By Federal Newswire | Apr 19, 2024
U.S. Senators Cynthia Lummis (R-WY), who is on the Senate Banking Committee, and Kirsten Gillibrand (D-NY), who is on the Senate Agriculture Committee, introduced bipartisan legislation to create a regulatory framework for stablecoins.
By Federal Newswire | Apr 19, 2024
Commissioner Caroline D. Pham will participate in a Digital Currency Roundtable hosted by the Institute of International Finance. The event is scheduled to take place on Friday, April 19, 2024, at 9:00 a.m. (EDT) at Wilmer Hale, located at 2100 Pennsylvania Avenue, NW, Washington, DC 20037.The Institute of International Finance will be hosting the roundtable discussion where Commissioner Pham is set to speak. The purpose of the event and the specific topics to be covered have not been disclosed in the provided information.This engagement signifies Commissioner Pham's...
By Federal Newswire | Apr 18, 2024
Washington, D.C. — Commodity Futures Trading Commission Chairman Rostin Behnam today announced the agency’s first Strategic Plan to Advance Diversity, Equity, Inclusion, and Accessibility (DEIA Plan). In his statement, Chairman Behnam expressed optimism about the future impact of the plan, saying, "As we embark on this transformative journey, I look forward to seeing the opportunities that lie ahead and the positive impact this DEIA Plan will have on our agency and the broader financial community."Acknowledging the efforts of the team behind the DEIA Plan, Chairman Behnam...
By Federal Newswire | Apr 18, 2024
Commissioner Kristin N. Johnson is set to deliver a keynote address at the upcoming Institute of International Finance’s carbon markets gathering. The event, scheduled for Thursday, April 18, 2024, at 4:30 p.m. (ET), will take place at the Institute of International Finance located at 1333 H Street, NW, Suite 800E, Washington, DC 20005.The gathering aims to discuss recent themes and developments in carbon markets, with Commissioner Johnson's address expected to provide valuable insights into this crucial topic.
By Federal Newswire | Apr 18, 2024
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) recently released a Financial Trend Analysis focusing on patterns and trends related to Elder Financial Exploitation (EFE). According to FinCEN's analysis, there were 155,415 filings over a one-year period totaling approximately $27 billion in EFE-related suspicious activity."FinCEN has long recognized the threat that Elder Financial Exploitation poses and the need to protect the older adult population from financial abuse," stated FinCEN Director Andrea Gacki. She also expressed gratitude...
By Federal Newswire | Apr 18, 2024
Chairman Rostin Behnam is set to deliver a keynote address at the upcoming 2024 Europe-US Symposium. The event is scheduled to take place on April 18, 2024, from 3:35 p.m. to 4:00 p.m. (EDT) at the JW Marriott Hotel located at 1331 Pennsylvania Avenue, NW, Washington, DC 20004.According to a press release, Behnam's keynote address is highly anticipated at the symposium, which aims to foster discussions and collaborations between Europe and the United States. The event serves as a platform for experts and leaders from both regions to exchange ideas and insights on various...
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...
