The Commodity Futures Trading Commission (CFTC) says there have been a record number of complaints about crypto assets in 2023, which were the subject of nearly half of its enforcement actions.
In a new press release, the regulator says there have been a record number of digital asset cases in fiscal year 2023, ultimately resulting in 47 enforcement actions.
“In FY 2023, the CFTC has strengthened its reputation as a leading digital asset enforcement agency.
It filed high-profile complaints about fraud by major exchanges, individual Ponzi schemers and others; achieved a first-of-its-kind victory in a lawsuit against a decentralized autonomous organization; sued and won another trial victory against a digital asset futures platform; filed an innovative lawsuit over cross-market manipulation of blockchains; and continued its efforts to protect the public in the decentralized finance space.
In FY 2023, the CFTC filed 47 lawsuits related to conduct related to digital assets, representing more than 49% of all lawsuits filed during that period.”
Some high-profile enforcement actions by the CFTC – which does not operate in criminal court – include charging former FTX founder Sam Bankman-Fried and some of his colleagues with defrauding investors, Binance and its founder Changpeng Zhao, for allegedly evading of regulations, and Celsius and its former CEO Alex Mashinsky with operating an unregistered commodity pool.
As stated by CFTC Chairman Rostin Behnam:
“At a time of great uncertainty and volatility, healthy U.S. commodity markets are critical to ensuring a strong economy. The CFTC will continue to take all necessary actions to protect customer funds and ensure fair prices for American consumers. I thank the Division staff for their hard work over the past financial year.”
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