The CFTC is considering a probe into Crypto.com’s futures contracts that allow betting on football matches, including the Super Bowl, amid concerns over compliance with gaming laws. The agency is set to review the contracts after the Super Bowl on February 9, following a notification from Crypto.com about their trading launch in December. A spokesperson for Crypto.com expressed disappointment over the potential action, emphasizing the need for the incoming CFTC leadership to guide market operations.
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0 posts last weekCFTC Chairman Rostin Behnam Announces Resignation and Bitcoin Regulation Efforts
CFTC Chairman Rostin Behnam plans to resign from his position on January 20, with his departure from the commission set for February 7. Behnam, who advocated for the agency to become the primary regulator of Bitcoin and oversee cryptocurrency exchanges, expressed pride in the commission’s resilience amid various financial challenges.
about CFTC Chairman Rostin Behnam Announces Resignation and Bitcoin Regulation EffortsCFTC Chair Rostin Behnam Resigns Amid Kalshi Lawsuit and Regulatory Challenges
CFTC Chairman Rostin Behnam will resign on January 20, 2025, amid an ongoing lawsuit against Kalshi over political betting contracts. His tenure was marked by a strong push for cryptocurrency regulation, including a $4.3 billion settlement with Binance and calls for clearer frameworks to protect investors. Behnam’s departure raises uncertainties about the future of digital asset oversight and the commission’s approach to innovative financial products.
about CFTC Chair Rostin Behnam Resigns Amid Kalshi Lawsuit and Regulatory ChallengesGemini Agrees to Five Million Dollar Penalty in CFTC Settlement
Gemini Trust Company has agreed to a $5 million penalty to resolve claims from the CFTC, potentially avoiding a civil trial if approved by a judge. The allegations include making false statements during its 2017 bid for Bitcoin futures and undisclosed fee arrangements with select market participants. A federal judge has set the trial start date for January 21, with no further adjournments allowed.
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