As a seasoned researcher with years of experience in the financial sector, I find myself deeply concerned yet intrigued by these recent developments in the crypto space. The actions taken by both the CFTC and SEC are long overdue but certainly welcome. It’s about time we put an end to these underhanded practices that have been preying on unsuspecting investors for far too long.
The Commodity Futures Trading Commission (CFTC) in the United States is intensifying its investigation of offshore betting platforms dealing with cryptocurrencies, such as Polymarket. During a recent talk at Georgetown University’s Psaros Center for Financial Markets and Policy on July 17th, CFTC Chair Rostin Behnam revealed that the agency is keeping a close eye on these platforms that provide services to American customers without the necessary registration.
As the U.S. Presidential elections draw near, the Commodity Futures Trading Commission (CFTC) is keeping a keen eye on the platform Polymarket. Lately, there’s been an uptick in Kamala Harris’ popularity compared to Donald Trump in the prediction market on Polymarket.
SEC Tackles First Crypto “Pig Butchering” Scam
On the 17th of September, I, as an analyst, witnessed a significant event unfold when the U.S. Securities and Exchange Commission (SEC) took legal action against a notorious “pig butchering” scam in the cryptocurrency sector. The SEC filed charges against five entities and three individuals associated with deceptive exchanges, CoinW6 and NanoBit, alleging they swindled investors out of approximately $3.2 million.
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2024-09-24 10:16