Tag: Penalizes

US CFTC Penalizes Bitcoin Pool Operator $3.4 Billion In Largest Civil Fraud Victory

boss

Summary: South Africa-based Cornelius Johannes Steynberg was fined $3.4 billion for running an unregistered Bitcoin commodity pool operation, the CFTC announced in a Thursday statement. Steynberg founded Mirror Trading International (MTI), a BTC pool operator that illegally accepted $1.7 billion from 23,000 U.S. citizens while operating out of SA. The news marks the largest civil monetary penalty ever won in the history of the Commodities Futures Trading Commission, America’s commodities watchdog. The U.S. Commodities Futures Trading Commission was awarded $3.4 billion in penalties in a case against South African-based bitcoin…

In an Apparent First, U.S. SEC Penalizes Crypto Hedge Fund

boss

The U.S. Securities and Exchange Commission (SEC) has issued a cease and desist order and a $200,000 fine to Crypto Asset Management (CAM) and its founder Timothy Enneking, according to a document published on the commission’s website Tuesday, September 11. According to CNBC, this is the first SEC disciplinary action against a digital asset management fund. The SEC order says that CAM “misrepresented” itself as the “first regulated crypto asset fund in the United States,” and raised $3.6 million from 44 investors in late 2017, bringing its net asset value…