• The SEC, CFTC and FinCen got together to say follow the rules or you'll get trampled.
    Regulation

    Three agencies issue direct warning: everyone must comply

    Anti-money laundering and terrorism financing laws must be followed; registration with the correct agency is your responsibility

    The three main U.S. agencies overseeing cryptocurrencies and digital assets just issued an unusual joint warning. You must comply with anti-money laundering rules and register with us.

  • LedgerX CEO Paul Chou accuses CFTC Chairman Giancarlo of vendetta
    Regulation

    LedgerX accused ex-CFTC Chair J. Christopher Giancarlo of vendetta

    An unflattering blog post by LedgerX CEO Paul Chou led to a campaign of delays to the exchange’s license to offer physically settled Bitcoin futures, the firm alleged

    Cryptocurrency derivatives exchange LedgerX has accused former U.S. Commodity Futures Trading Commission Chairman J. Christopher Giancarlo of carrying out a revenge campaign. LedgerX wrote two letters of complaining about Giancarlo to the CFTC in July, Coindesk reported September 28. Giancarlo is known as “Crypto-Dad” because of his favorable view of the cryptocurrency industry. Coindesk obtained the letters, written on July 3 and July 11 from the CFTC via a Freedom of Information Act request. In them, LedgerX CEO Paul Chou claimed Giancarlo deliberately sabotaged and delayed its vital derivatives clearing organization (DCO) license application. “In January, the Chairman called one of our board members and told him that he was going…

  • SEC Chairman Jay Clayton discussing Bitcoin at CNBC's Delivering Alpha conference, September 19, 2019 (via YouTube.com / CNBC)
    Bitcoin,  United States

    SEC’s Jay Clayton casts more doubt on Bitcoin ETF

    Speaking at the Discovering Alpha conference in New York, the commission’s chairman said people who think an unmanipulated bitcoin price can be found are ‘sorely mistaken’

    Securities and Exchange Commission Chairman Jay Clayton again threw cold water on the idea of listing Bitcoin on an exchange traded fund (ETF) anytime soon.

  • Daniel Gorfine, chief innovation officer of the Commodities Futures Exchange Commission and director of LabCFTC (photo by Lawrence Lewitinn for Modern Consensus).
    United States

    Blockchain champion Daniel Gorfine to leave CFTC

    Creator of LabCFTC to go back to the private sector

    The Commodity Futures Trading Commission (CFTC) is losing one of its top blockchain-friendly officials to the private sector. Daniel Gorfine, the agency's first chief innovation office and the director in charge of LabCFTC, is quitting the agency in two weeks to go back to the private sector. There is no word yet where he is going.