Former CFTC Chairman Chris Giancarlo urges a larger CFTC role in regulating cryptocurrencies, contrasting its approach with the SEC’s. While he highlights the CFTC’s potential, concerns about resource allocation and potential regulatory overlap are raised.
Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), has called on Congress to address the regulation of cryptocurrency and election betting, highlighting the growing concern surrounding platforms like Polymarket and Kalshi. Behnam stated that the CFTC considers election contracts illegal and that the agency faces challenges in policing these activities. The call for congressional intervention follows the rise of election betting platforms and the recent lifting of a ban on Kalshi by an appeals court.
Prediction market Kalshi has resumed taking bets on the US congressional elections after a court ruling overturned a ban imposed by the Commodity Futures Trading Commission (CFTC). This decision marks a significant step towards legalizing prediction markets for political events in the US. Kalshi now offers contracts on the outcome of the Senate and House elections, alongside a contract on the 2024 presidential election.
Bankrupt cryptocurrency exchange FTX will pay $12.7 billion in relief to its customers as part of a settlement with the Commodity Futures Trading Commission (CFTC). The settlement aims to compensate customers who lost deposits during the exchange’s collapse in late 2022.
The Commodities Futures Trading Commission (CFTC) is investigating banks for potentially discouraging whistleblowing. The CFTC is asking for non-disclosure agreements, employment records, and customer agreements from banks like JPMorgan Chase, Bank of America, and Citigroup. This probe follows similar actions by the US Securities and Exchange Commission (SEC), which has fined companies for violating whistleblower protection rules and launched a program to encourage reporting of illegal activity. JPMorgan recently settled with the SEC for $18 million for whistleblower protection violations.
The Commodity Futures Trading Commission (CFTC) has reportedly launched an investigation into the non-disclosure agreements (NDAs) used by top US banks, including JPMorgan, Bank of America, and Citi. The probe focuses on whether these agreements potentially discourage whistleblowers and hinder the reporting of wrongdoing to the regulator. The CFTC’s investigation follows similar government actions targeting companies accused of using NDAs to suppress employee disclosures of violations.
