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SirWin
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CFTC filed complaints against three defi protocols

cftc-filed-complaints-against-three-defi-protocols
Edited by
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CFTC filed complaints against three defi protocols

The United States Commodity Futures Trading Commission (CFTC) has issued orders against three defi protocols for failing to register derivative trading offerings.

The regulatory body has acted against the three decentralized finance (defi) protocols: Opyn, ZeroEx, and Deridex. The regulator claims they failed to register derivatives trading offerings.

The CTFC ordered that the companies pay fines of $250,000, $200,000, and $100,000, respectively.

The entities reportedly failed to comply with the customer’s regulations and provisions established in the Bank Secrecy Act. The defi protocols were also charged with illegally offering leveraged and margined retail commodity transactions in digital assets.

CFTC’s recent crypto cases

The Commodity Futures Trading Commission is a US government agency; it was created in 1974. Its primary purpose is to regulate the US derivative markets, including different assets like futures, swaps, and cryptocurrency.

In recent months, the regulator has taken action against different crypto scammers that conducted crypto frauds, such as Michael and Amanda Griffis, who worked a crypto scheme related to their real estate business, Cornelius Johannes Steynberg of Stellenbosch from South Africa who organized a crypto fraud, and also Levine and Reichenthal who engaged into a digital asset fraud, among others.

The main aim of the CTFC is to protect consumers from potential scammers and crypto fraudsters. The regulator has jurisdiction over conducting investigations and filing complaints against potential criminals.